Flexible Spending Accounts (FSA)

ASi offers different types of Flexible Spending Accounts (FSAs).  FSAs are also known as flex plans, Cafeteria Plans, or Section 125 plans.  Your employer will determine which FSAs are available for employees.

One type of FSA is a Healthcare FSA.  This account allows you to set aside pre-taxed earnings each pay period into an account to help fund your out-of-pocket healthcare expenses.

Another type of FSA is a Dependent Care Assistant Program (DCAP).  This account is like a Healthcare FSA, in which you can set aside pre-taxed earnings into an account, however, the DCAP benefit allows you to pay for childcare expenses incurred while you and your spouse are both working or are seeking employment.

What is a Dependent Care Assistant Program?
ASi FSA Plans & How to Use Them

During the open enrollment period, you will estimate your out-of-pocket healthcare expenses for the upcoming year.  You will make an annual election based upon your healthcare expense needs. Payroll deductions are made equally each pay period throughout the plan year. For example, if you elect to set aside $1,200 for the year and are paid twice a month, then $50 will be deducted pre-tax from each paycheck to fund your Healthcare FSA.  With your Healthcare FSA, the full annual election amount will be accessible to you on day one of your benefit effective date.

Like your Healthcare FSA, the amount you decide on for your DCAP benefit will be deducted each pay period on a pre-tax basis and put into your DCAP account. However, with a DCAP account you only have access to the amount that has actually been deducted from your pay.  For example, if you elect to set aside $5,000 for the year, but have only contributed $500 so far, $500 is the most you can be reimbursed for toward childcare expenses at that time.

With both your Healthcare FSA and DCAP, eligible expenses must be incurred during the current plan year.

After estimating your costs for both plans, you will inform your employer of your election(s). Once your elections are established with your employer, they cannot be changed unless you experience a qualifying event, such as marriage, birth of a child, or divorce.  Need help on how much to elect? Visit our Tax-Savings Calculator Tool!

What Does My Healthcare FSA/DCAP Cover?

Your Healthcare FSA covers a variety of healthcare expenses including, but not limited to:

  • Deductibles & Co-Pays
  • Prescription Drugs
  • Dental & Orthodontic Services
  • Eyeglass, Contacts, & Eye Surgery
  • Chiropractic Services
  • Mental Health Care
  • Smoking Cessation Program

For a complete list of eligible services, please visit the FSA Store.

Your DCAP benefit covers your childcare expenses incurred while you and your spouse are both working or are seeking employment.

For a complete list of eligible services, please visit the FSA Store.

Whose Expenses are Eligible?

Your FSA covers you, your spouse, and any taxable dependents, even if they are not covered on your employer’s healthcare plan.  You, however, need to be at least eligible to receive benefits through your employer in order to participate in the Healthcare or DCAP FSA.

How Much Should I Elect?

A good rule is to set aside funds for your predictable medical and or daycare expenses for the year.  Be sure to include co-pays, prescription costs, dental/orthodontic treatment, vision related expenses for you and your eligible dependents.  If you need help estimating those costs, please use our Tax-Savings Calculator Tool!

Be sure to estimate as close as you can to your expected out-of-pocket expenses. If you do not use your entire election the remaining funds may be subject to the “Use-It or Lose-It” rule.

Use-It or Lose-It Rule

FSAs are governed by the IRS and they have stipulated that if you do not use your entire election within the plan year, the remaining funds will be forfeited back to the plan and are NOT refundable to you.

Rollover – For Healthcare FSAs Only

The rollover feature allows participants to rollover up to $550 from one plan year to the next Healthcare FSA plan year.  Any funds above the $550 limit would be forfeited back to the plan.  Rollovers are an optional feature decided by your employer, so be sure to check your employer’s plan design to see if the rollover option is included.  The rollover option is not available for DCAP accounts.

Grace Period

This optional feature allows participants an extra 2.5 months at the end of the plan year to incur expenses against your Healthcare FSA and/or DCAP account. This feature is decided by your employer, so be sure to check your employer’s plan design to see if this feature is included.

Your plan can only have either the rollover option or a grace period.  Check your employer’s plan design to see which option (if any) they offer.

How Can I View My Healthcare FSA/DCAP Funds?

You have 24/7 access to view your account balances and details!

  1. The ASi Employee Portal – a desktop portal where you can view account balances, activity, claim history, and reimbursement history.
  2. The ASi Flex HRA App – A mobile application where you can view your account balances, transactions, and history anytime, anywhere on any iPhone, Android or tablet device.

 

How Can I Submit a Claim?

You have 24/7 access to submit a healthcare claim or documentation for reimbursement!

  1. The ASi Employee Portal – a desktop portal where you can file a healthcare claim, upload receipts/documentation, view claims history, and track expenses.
  2. The ASi Flex HRA App –A mobile application that allows you to submit a healthcare claim, capture and upload pictures of your receipts and documentation anytime, anywhere on any iPhone, Android, or tablet device.
  3. Email, Fax, or Mail

Email:  flexhelp@asibenefits.com
Fax:  559-475-5782 or 866-333-1321
Mail: PO Box 5809, Fresno, CA 93755

What Type of Documentation Do I Need to Submit with my Claim?

To ensure proper claim processing and payment, proof of service(s) provided must be submitted. The IRS requires the following documentation:

  • Patient Name
  • Provider Name and Address
  • Date of Service (must fall within the plan year), NOT date of payment
  • Service(s) Received or Item(s) Purchased
  • Cost of service or your patient responsibility of the service/item
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