Currently your employer participates in the “rollover” program. This means any amount left in your account, up to $500, will rollover to the next plan year.

In order to prevent the loss of funds, it is important to plan carefully so that your annual election matches your actual expenses as closely as possible. Of course, it is impossible to project with 100% accuracy, so you may come up short or have a little money left at the end of the claim period.
It is important to realize that loss of funds does not necessarily indicate a loss out-of-pocket. In most cases, even when participants claim less than their election, they still save money by participating in the plan. For example, if your calculated annual tax savings is $1,200 (based on a $4,800 election) and you only use $4,600, you’ve still saved money – in this example, $1,000.

Yes. You must notify your employer that you choose to forfeit your balance by the end of the plan year to avoid paying the monthly fee.

The Plan Year is the 12-month period specified in the SPD that determines the beginning and ending dates of plan contributions (salary reductions). Currently the plan year runs from Sept 1st - August 31st .

Using a claim form, you may submit your claim and supporting documentation to American Insurance Services by mail, fax or electronic submission.

Amounts paid to a daycare provider either in or out of the home are eligible, as long as the provider is not a dependent or relative under the age of 19. Pre-school tuition is reimbursable, but tuition and expenses from grade K-12 schooling are not.

For medical accounts, any out-of-pocket expenses related to services covered by insurance, including co-pays, deductibles, prescription drugs, and out-patient elective surgery; dental, orthodontic and ophthalmologist’s fees and expenses including prescribed treatments and maintenance (such as contact solution); chiropractic, psychiatric, and psychologist’s fees and expenses; disability-related expenses; and over-the-counter (non-prescription) drugs such as pain relievers and allergy medications are eligible.

In general, any treatment for a specific medical condition is reimbursable; cosmetic and some preventative expenses are not. For example, teeth-whitening and multi-vitamins are not eligible, but prescription sunglasses and non-prescription allergy medicines are with a doctor’s prescription.
Insurance premiums are not eligible for reimbursement.

Yes you will be charged the $2.95 fee for the entire plan year whether you have a current election or not.

The Claim Period is the period specified in the SPD of at least 12 months that determines the beginning and ending dates of expenses eligible for reimbursement, occurring simultaneously with the plan year. In other words, it is the period of time that claims can be incurred and reimbursed from current plan contributions. The beginning date always coincides with the beginning of the plan year, but the end date may not.

Yes, all FSA participants will receive a debit card. Dependent care participants will not.

A Cafeteria Plan is a benefit provided by your employer which allows you to contribute a certain amount of your gross income to a designated account or accounts before taxes are calculated. These accounts are for insurance premiums and medical or dependent care expenses not covered by your insurance, from which you can be reimbursed throughout the plan year or claim period as you incur the expenses. A cafeteria plan allows you to reduce your gross income, thereby reducing the amount you pay in Federal, Social Security and some State taxes – a savings of between 25% and 40% of every dollar you contribute to the plan.

An FSA is an account into which your contributions (from pre-tax salary reductions) for qualified medical, dental, vision and/or dependent care expenses are deposited. Funds can be used for any qualified beneficiary. It functions like a checking account in that you can use your debit card or the cafeteria plan administrator actually writes you checks for the medical and dependent care expenses that you submit.

For a medical FSA, the maximum annual election is set by your company and can be found in the Summary Plan Description (SPD). Currently the amount is set at $2550.

For a dependent care FSA, the maximum annual election is set by the IRS and is as follows:

• Married Filing Jointly or Single Head of Household, $5,000
• Married Filing Separately, $2,500

Download the app Argyle Insurance from Google or Apple devices

You can visit myrsc.com and access your balance and transactions there. Instructions on how to login are available on the district website.

Currently your employer participates in the “rollover” program. This means any amount left in your account, up to $500, will rollover to the next plan year.

In order to prevent the loss of funds, it is important to plan carefully so that your annual election matches your actual expenses as closely as possible. Of course, it is impossible to project with 100% accuracy, so you may come up short or have a little money left at the end of the claim period.
It is important to realize that loss of funds does not necessarily indicate a loss out-of-pocket. In most cases, even when participants claim less than their election, they still save money by participating in the plan. For example, if your calculated annual tax savings is $1,200 (based on a $4,800 election) and you only use $4,600, you’ve still saved money – in this example, $1,000.

No, there is no charge for the first debit card. If you would like an additional debit card the fee is $5 per card.

Orthodontic expenses are eligible to be reimbursed in the same way as any other medical expense. However, because such treatments generally cover an extended period of time, you have the option of scheduling monthly reimbursements rather than payment up front. In addition, if your current election does not cover the total expense of the treatment(s), it can be reimbursed over multiple plan years as long as the treatment dates occur during those years.

Expenses incurred during the plan year prior to termination can be submitted for reimbursement for up to 90 days.

Yes. Employees will pay $2.95 per month to participate in the FSA.

After 90 days your debit card will be turned off and your account frozen until the administrator is provided a qualified substantiation.

In general; the higher your adjusted gross income, the more likely it is that you will benefit more from participating in the dependent care FSA from taking the tax credit. Note that the amount you elect to place in your dependent care account reduces your potential tax credit. Always consult your tax advisor to verify your own individual situation.

There at least two significant ways to benefit from an FSA. The first is by taking advantage of the tax savings. By reducing your gross income, you pay less in taxes, take home more pay and have the freedom to choose how your money is used or invested. The second benefit is the “cash flow” increase built into the medical FSA (not the dependent care FSA). This means that no matter how much money you have actually contributed to the plan at any given point, you can still be reimbursed up to your entire annual election. So a major medical expense at the beginning of the claim period can be reimbursed even though few, if any, deposits have been made into the account at that time. This applies to the medical FSA only. Dependent care participants can only access the amount that they have contributed at that time.

After the claim period, there is a “Run-Out” period as specified in the SPD for submitting claims incurred during the claim period. This allows all eligible expenses up to the very last day of the claim period to be submitted and reimbursed. Currently the “Run-Out” is 90 days from the end of the plan year or termination.

No, your new amount will be added to your card at a date designated by your employer. You will continue to use your current card until the expiration date. A new card will be issued to you, the same way your bank re-issues an expired debit card.

Since your gross income is reduced by the amount you place in a cafeteria plan account, the amount you pay in taxes is lower. This tax savings results in a higher net income. For example, let’s say your adjusted monthly salary is $3,000, resulting in a tax deduction of $750/month. Your take-home pay is $2,250. If your unreimbursed medical and dependent care expenses come to $400/month, then your net is $1,850. However, if you deposit that $400/month into a cafeteria plan account, then your taxes are reduced by $100, leaving your net pay (Including the $400 dependent care contribution/reimbursement) $1,950 – or $1,200 more per year!

Sometimes when you are swiping your card, the cafeteria plan administrator will need to verify that the transaction is a qualified expense. You will be sent an email asking for a copy of the receipt. The receipt must include the date of service, the service provided, the provider information, and who the service was for.