Human Resources
Health Care Spending Account
Summary:
The Health Care Spending Account (HCSA) allows you to direct pre-tax dollars from your pay into your own account to pay yourself back for covered health care charges.
Company:
WageWorks is our third-party administrator (TPA). If you are in the plan, you should visit their web site and register as a user to access the services they provide, such as debit card transactions, direct deposit, Pay My Proviver, and more.
Plan Number
77510
Eligibility:
Full-time and part-time faculty, administrative staff, and supportive operating staff. There is a 3 month waiting period for new employees before they can begin participating in this account.
Employee Cost:
Each employee elects an amount to deposit from their pay, on a pre-tax basis, into the account.
Benefit:
The purpose of the HCSA is to use pre-tax dollars to pay for out-of-pocket medical expenses, dental expenses, and vision expenses. An employee can elect to deposit up to $3,500 per plan year into the HCSA.
You determine how much you want to direct into the account for the plan year. This amount is divided by the number of pays and the result is deducted from each pay on a pre-tax basis. You do not pay federal, state, and social security tax on the amount you direct into your HCSA from your pay. The benefit of the HCSA is the tax savings.
Example - If a supportive operating staff employee on biweekly payroll directs $260.00 into the HCSA, then $10.00 ($260.00/26 pay checks per year) will be deducted on a pre-tax basis from each paycheck. The employee saves federal, state, and social security taxes on the $260.00.
To get reimbursed, you simply complete a claim form, attach Explanation of Benefits (EOBs) from the insurance company showing what part of the charge is your responsibility, or attach an itemized bill from the provider for those expenses not covered by insurance, and forward to FlexBen at the address listed above, or, preferably, fax the claim form to 1-877-353-9236. The entire amount you elected for the plan year is available for reimbursement immediately, beginning January 1 of the plan year. Claims are processed and reimbursed on a weekly basis.
Notes:
Please refer to the Summary Plan Description that was given to you for a detailed description of this benefit.
This plan has been described here in a general manner. Your benefits are more fully described in the Plan document. In the case of a conflict or omission, the provisions of the Plan document will govern.
Consult the summary plan if you have any questions or call Jim Ables at ext. 6239 in the Office of Human Resources.