Important Rules

 
 

Benefits Summary Plan Description

Important Rules

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Important Rules

  • Use it or lose it — Estimate annual health care and dependent (day) care expenses carefully! Any money put aside in a Flexible Spending Account must be used for eligible health care expenses or dependent care expenses incurred between January 1 and December 31 (or during the period of plan participation). April 30th of the following year is the deadline to submit claims for the current year's expenses.
  • No double dipping — Health care expenses reimbursed through the Health Care Flexible Spending Account and dependent care expenses reimbursed through the Dependent (Day) Care Flexible Spending Account cannot also be deducted on federal income tax returns.
  • No transferring of funds — Transfers of funds from the Health Care Flexible Spending Account to the Dependent (Day) Care Flexible Spending Account and vice versa are not permitted.
  • Must enroll annually — Participants must enroll during each Open Enrollment period in order to participate each calendar year.