Benefits Administration
FSA – Flexible Spending Accounts
Flexible Spending Accounts (FSA) are proven to save you money on your health care and dependent care expenses. By setting money aside on a pre-taxed basis for your qualified expenses, you will save tax dollars. Pro-Flex Administrators will provide you the tools to efficiently manage your account(s) and simplify the reimbursement process.
Unreimbursed Healthcare Accounts: Qualified Expenses
Flexible Spending Accounts are used to pay for expenses not covered by: medical, vision, and dental plans, such as:
- Health Plan Deductibles
- Prescription Drugs
- Dental
- Eye Exams
- Co-Pays
- Co-Insurance
- *See IRS Publication 502
Dependent Care Accounts
Dependent Care Accounts are for expenses incurred for the care of your dependent children under the age of 13.
The most common dependent expenses are:
- Child Care Centers
- Babysitters
- Day Camps
- Elder Care
***Qualified expenses also include care for a physically or mentally disabled dependent adult that attends adult day care.
FAQs
What is an FSA?
Flexible Spending Accounts are sponsored by your employer and allow you to pay for certain qualified expense on a pre-tax basis.
Types of FSAs include:
- Unreimbursed Healthcare Accounts
- Dependent Care Accounts
- Premium Reimbursement Accounts
- Adoption Assistance Accounts
How do FSAs work?
Each year at Open enrollment, you must elect the amount of out of pocket expenses you estimate that you will incur through the upcoming plan year. Be conservative as you must use the entire amount within the plan year as the remaining balances will not carry over to the following year. Click on the link to budget what expenses may apply. Pro-Flex Guide to Expenses
Once you elect the amount, your gross amount will be reduced in equal installments coinciding with your paychecks through the course of the plan year. As expenses are incurred, simply swipe your Benny Debit Card at point of service, or file a manual claim and Pro-Flex Administrators will reimburse you for your qualified expense. Click on the following link for the Pro-Flex Claim Form
Why use a FSA?
The primary reason to use a Flexible Spending Account is to save money! Contributions are deducted before taxes, including federal, state, Social Security and Medicare (FICA) taxes. Overall, you can save from 15% to 40% of your contributions, depending on your income level. In addition, Flexible Spending Accounts allow you a means in which to manage and budget for, you’re typical out of pocket costs year after year.
Important points to consider:
A few very important things to consider when enrolling or using your Flexible Spending Account:
- You should carefully estimate your expected eligible health care expenses during the plan year to determine the total amount of your pay you will contribute to your FSA.
- Expenses reimbursed from your FSA during the plan year must be for dates of service/dates of purchase during that plan year.
- For dependent care, estimate days per week times the number of working weeks throughout the year. IRS plan maximums for day care expenses are $5,000.00 annually per family.
- Contributions to your FSA during the plan year are not allowed unless you experience a qualifying event defined by the IRS.
- Grace periods are available after the plan year to use remaining balances. Please see your Summary Plan Description or contact or Administrator. Any remaining balance in your FSA at the end of the plan year for which you have no eligible expenses must be forfeited to the employer based upon IRS regulations.
Tools and Resources
- Account Balance Statements through our employee portal
- Manage and review claim submissions and claim status
- Access to forms
- Submit claims
- Download generic FSA forms including Claim and Direct Deposit Authorization Forms
- Download FSA informational Brochures
Flexible Spending Account Services
- Enrollment Forms
- Communication Materials
- Customer Service Inquiries
- Claim Submission Forms
- Direct Deposit of Employee Reimbursements
- Web Accessed Employer Reports
- Plan Document and SPD’s
- FSA Claims Processing
- Annual Discrimination Testing
- 24/7 Web Access
HRA Introduction
Health Reimbursement Accounts (HRA) allow employees to use this employer- funded benefit towards uninsured medical expenses. HRA dollars can be rolled over from one plan year to the next depending on what kind of HRA plan your employer has selected. Withdrawals from HRAs are not subject to Federal, State or Social Security taxes and HRAs also provide an additional benefit to employees who are enrolled in an Unreimbursed Healthcare Account (FSA).
FAQs
What is an HRA?
An HRA is an employer- funded benefit that is used to reimburse employees for their out-of-pocket medical expenses. Employers contribute tax-deductible dollars to the account and employees receive reimbursements tax-free. HRA balances can be carried forward from year to year. HRAs are funded according to a predetermined schedule and participants can access only what is in their account. Some HRA’s are limited to specific expenses such as co-pays for prescription drugs. Please ask your benefit administrator or refer to your Summary Plan Description for more details regarding your plan.
What types of HRA plans available?
- Unrestricted HRA – Unrestricted HRA Plans pays for all medical expenses not covered by insurance including but not limited to insurance co-payments and deductibles, vision and dental expenses, and prescription drug co-payments. Click here for a list of eligible expenses.
- Restricted HRA – Restricted HRA Plans are limited to specific expenses such as deductible expenses or prescription drug co-payments.
- HRA Gap Plan – The HRA Gap Plan only pays for items eligible under the insurance plan, and makes up the shortfall between the employees’ out-of-pocket expenses and the insurance coverage.
How do I access my HRA Account Information?
Simply log in to proflextpa.com and utilize your pre-assigned identification number and password to access your current balance and to review other useful tools.
Tools and Resources
- Manage and review claim submissions and claim status
- Access to forms
- Submit claims
- Download generic HRA forms including Claim and Direct Deposit Authorization Forms
- Download an HRA informational brochure
Healthcare Reimbursement Account Services
- Enrollment Forms
- Communication Materials
- Customer Service Inquiries
- Claim Submission Forms
- Direct Deposit of Employee Reimbursements
- Web Accessed Employer Reports
- Plan Document and SPD’s
- HRA Claims Processing
- 24/7 Web Access
HSA – Health Savings Accounts
Health Savings Accounts (HSA) are an investment account established by your employer to help cover costs related to qualified medical expenses.
Pro-Flex Administrators’ HSA Benefits
- Your HSA stays with you even if you change jobs.
- Your HSA dollars are tax-free when you fund the account and when you utilize the account for qualified medical expenses.
- Your HSA can pay for insurance deductibles and medical care not typically covered by medical insurance plans.
FAQs
How does an HSA work?
HSA’s are used in combination with a High Deductible Health Plan (In order to have an HSA, a participant must be enrolled in the high deductible medical plan). HSA Accounts can be funded by both employer and/or employee contributions. HSA’s are placed into an investment account and can be accessed to cover unreimbursed medical expenses. HSA balances are typically set up to rollover year after year.
How do I access my Account?
Simply log in to proflextpa.com and utilize your assigned username and password. Our website will provide you all the tools to manage your account including:
- Real time Account Balance
- Manage and modify contributions
- Research Investments and distributions
How will I be reimbursed for my eligible health care expenses?
With Pro-Flex as your administrator for your HSA Account, we will provide you with a Benny Card to access funds when paying for qualified medical expenses. The process is easy, efficient and simple.
If you need to file a request for reimbursement manually, download the reimbursement form here and submit via fax, email or mail it to our office.
Requests for reimbursement can be submitted by:
Fax: 716-929-2013
Email: csr@proflextpa.com
Mail: 8321 Main Street
Williamsville NY 14221