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PRIMEFLEX: FLEXIBLE SPENDING PLANS . EMPLOYEE ENROLLMENT. Flexible Spending Accounts . Allows employees to pay for their family medical and daycare expenses on a pre-tax basis Reduces taxes Increases take-home pay Typically the only way to deduct these expenses Diversified benefits
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PRIMEFLEX:FLEXIBLE SPENDING PLANS EMPLOYEE ENROLLMENT
Flexible Spending Accounts • Allows employees to pay for their family medical and daycare expenses on a pre-tax basis • Reduces taxes • Increases take-home pay • Typically the only way to deduct these expenses • Diversified benefits • Voluntary – Choose what you need • If you have these expenses – Use it!! • Easy
What Flexible Spending Accounts are available? • Medical Flexible Spending Account • Dependent Care Reimbursement Account
Medical Flexible Spending Account • Co-Pays, Deductibles, Prescriptions, Eyeglasses/Contact Lenses, Dental, too! • OTC medicines - “Medically Necessary” • $2,000 maximum contribution limit • PrimeFlex Debit Card • Claim Reimbursement Form • Online submission of claims available • KEEP ALL of your receipts! We will ask for them for some of your expenses.
Dependent Care Reimbursement Account • Child Daycare – under Age 13 • Pre-Kindergarten Expenses / Summer Day Camps • Elder Care if claimed as dependent • Both spouses need to be working! • Maximum election of $5,000 per year. ($2,500 per if married, filing separately) • Form #5 – Claim Reimbursement Form • Online submission of claims available
PrimeFlex Customer Service • www.primepay.com • 24/7 Online Account Access • Claim Reimbursement Forms • Updated list of eligible merchants • Medical and Dependent Care Expense List • 877.7MY.FLEX • 877.6FAX.FSA, fax • primeflex@primepay.com