Flexible Spending Accounts
TOWN OF CARY Benefits Handbook Page 25
QUESTIONS?
Call Cary's designated
P&A line at:
(833) TWN-CARY or
(833) 896-2279 for
any questions
?
HELPFUL INFO
Benefit Videos
Flexible Compensation
Plan Summary
How to Use QuickClaim
P&A Mobile App
L
Employee Spending Accounts
USE OF
FUNDS
Eligible dependent care expenses incurred during the plan year (July 1 — June 30) can
be submitted for reimbursement through September 30th, but only for expenses in the
plan year. To use this money, you can electronically submit a claim or fax a claim for
reimbursement to 1-877-855-7105.
UNUSED FUNDS
Funds remaining in your Voluntary Dependent Care FSA are not eligible to roll over.
CHANGES
You can change your contribution during Open Enrollment or with a Qualifying Life
Event (QLE).
HEALTH SAVINGS ACCOUNT (HSA)
A Health Savings Account (HSA) is a type of personal savings account that you can set up to
pay for certain healthcare expenses, using pre-tax dollars. This benefit is administered by
the P&A Group.
ELIGIBILTY
Employees who are enrolled in the Medical — High Deductible Health Plan (HDHP) are
enrolled in the Health Savings Account (HSA). If you select the Medical — Traditional Plan or
if you waive coverage, you are not eligible for this account.
CONTRIBUTIONS
Cary will contribute your $3,500 benefit to this account on your behalf. The amount that
you as an employee can contribute is based on whether you are covering dependents and
is the difference between the maximum allowable election amount and Cary's contribution.
If you are 55 years or older, you are allowed an additional catch-up contribution of $1000
for the year.
MAXIMUM ELECTION AMOUNT
The maximum amount you can contribute depends on whether you have dependents
enrolled on your medical insurance plan. You can contribute up to $4,150 if you are
enrolled in employee only coverage and $8,300 if you are enrolled in employee dependent
coverage.
AVAILABLE FUNDS
Cary's contribution is available on July 1 or when the first payroll report is transmitted.
Employee contributions are available as deducted per paycheck.
