by daziumdesign@gmail.com | Sep 15, 2021
Your elections into the the Dependent Care FSA become available as they are contributed. As you incur daycare expenses, you will be reimbursed up to the amount that has been contributed thus far in the year. For example: You elect $5,000 and have $208 taken out of each paycheck throughout the year. After two (2) pay periods you submit a daycare claim for $500. Your current dependent care balance is $416. You will be reimbursed $416 immediatley and following your next payroll contribution, you will be reimbursed the remaining $84.
by daziumdesign@gmail.com | Sep 15, 2021
They will be available on the first day of the new plan year unless you enroll in a Health Savings Account. Which will require your funds to carry-over into a limited purpose FSA. If this occurs, your funds will be available at the end of the current plan years run-out period.
by daziumdesign@gmail.com | Sep 15, 2021
It depends on plan design. Frequently an HRA is offered is a reimbursement account to cover healthcare expenses incurred by you or your family members covered under the employer’s insurance plan. Check with your employer’s benefit department for more details.
by daziumdesign@gmail.com | Sep 15, 2021
That’s the best part of an HRA – you don’t need to contribute any money to your HRA as the funds are provided by your employer to offset certain out-of-pocket healthcare expenses.
by daziumdesign@gmail.com | Sep 15, 2021
To enroll in an HRA you must elect the option through your employer. With some plans, HRA coverage is automatically provided when you enroll in a specific health plan option, such as a deductible based PPO. Check with your employer’s benefit department for more details.
