Re: Health & Retirement Plans
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Response Date: 07/26/2005
Hello from the HR Service Center. Because you waived the medical coverage, you get a certain amount of credits. Instead of getting these paid out to you, they go in your flexible spending account. You can use this money to pay for certain medical expenses such as copy, doctors fees, crutches and over the counter medicine (for a complete list please reference the Benefits Manual through the Benefits Resource website).Once you incur an eligible expense you can request reimbursement from the spending account. This money is not deducted from your paycheck. If you don't use the money by the end of they year, the money it forfeited to the IRS. Thank you for contacting the HR Service Center. --Original Message-- Date: 7/25/2005 2:41:01 PM Subject: Health & Retirement Plans Over the weekend, I received a letter about my "Health Care Spending Account". I had opted out of all medical, optical, and dental coverage. Why do I have a balance for my Health Care Spending Account? Is money being contributed to this from my paycheck? What if I never use it? Thanks.