2013 Benefit Enrollment Guide - Troy University

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health reimbursement account Health Reimbursement Account A major component of Troy University’s employee benefit package is a Health Reimbursement Account—a type of benefit that covers common expenses most households incur on a routine basis. What Is A “Health Reimbursement Account” A Health Reimbursement Account (HRA) is an account funded by Troy University that will reimburse YOU for eligible medical expenses not otherwise covered by the Troy University health plan. You may submit claims for reimbursement for any expenses that you incur, as well as expenses for your spouse or any other tax dependent. Examples of eligible expenses are orthodontia, vision care, Lasik surgery, etc. If you have any unused funds in your HRA at the end of the year, there is no need to worry because the balance, up to $3,000 for family coverage and $1,500 for individual coverage, will roll forward into the next plan year. How Does HRA Work You will need to file all claims with Flexible Corporate Plans. Health Reimbursement claim forms can be downloaded at www.flexcorp.com and submitted to FlexCorp with a copy of the receipt or documentation of expense incurred. Each year you are enrolled in the health insurance plan, you will have the opportunity to accrue monies to add to your HRA for the next year. By the end of March, employees will receive a statement from FlexCorp showing their new balance for the plan year. Please contact Flexible Corporate Plans by phone at 205-995-1222 or visit www.flexcorp.com if you need your pin number or to view your personal account. Plan Provisions: • Your HRA account will be available to reimburse your expenses during your second year of participation in the Troy University health plan. • To earn HRA funds, a beginning balance of $1,500 for family coverage or $750 for single coverage is reduced by your claims paid during your first year on the health plan. • New employees or employees enrolling in the Troy University health plan after January 1st of each year will have their HRA contribution prorated based on the number of months remaining in that year. • 75% of any amount not used for your current year plan will be carried forward and added to any previous year balances in your HRA. • You must maintain coverage in the Troy University health plan to be eligible for HRA. • Plan year begins on January 1st and ends on December 31st. • HRA’s are capped at $3,000 for family coverage and $1,500 for individual coverage per plan year. Eligible Expenses: • Orthodontia & major dental expenses above plan limits • Lasik surgery • Co-insurance amounts required by the plan • Vision care • Other expenses allowed under IRS Code Sec. 213(d) Ineligible Expenses • Insurance Deductibles • Co-payments • OTC medications Please call 1-866-688-9727. Troy University 2013 Benefits Enrollment Guide 12
flexible spending Flexible Spending Accounts (Flex Corp) Want an easy way to save money Whether you are married with kids, single with no children, a single parent, or any other lifestyle status, a Flexible Spending Account can save you money. A FSA is actually comprised of two accounts: • A Health Care Account for health care reimbursement • A Dependent Care Account for child or elder care reimbursement How FSAs Save You Money FSAs allow you to set aside before-tax dollars to cover qualified expenses that you would normally pay out of your pocket with after-tax dollars. You pay no federal income, state income or Social Security taxes on the money you place in your FSA. With just a little planning, you can increase your net pay. *Please note that any expense reimbursed through your FSA is not eligible to be claimed as a deduction or credit on your tax return. How FSAs Work First, estimate what your out-of-pocket health care and child/elder care expenses will be for the year. Based on your estimate, you will then specify the amount of dollars you want to contribute to your FSA for the year. For 2013, you may contribute up to $2,500 to your Health Care Account and $5,000 to your Dependent Care Account. Once you begin depositing money into your FSA, you can start getting reimbursed for eligible expenses. You can be reimbursed up to the full amount of your annual Health Care Account contribution, regardless of the amount you have deposited in your account. For your Dependent Care Account, you can be reimbursed up to the amount you have deposited. Please visit www.flexcorp.com for a video about Flexible Spending. Click on “Participants,” then “Welcome Center.” On the Welcome Center page, click on “Employee Presentation.” And, don’t forget about your Flex Card! You can use your Flex Card at approved providers to instantly access your account. It allows you to pay for eligible expenses and services at the point of service by automatically deducting the amount from your FSA. No hassle and no waiting! Plus, you can view your account activity and balance any time on-line at www.flexcorp.com by clicking on Participants and Online Access. Frequently Asked Questions about FSA Who is eligible to participate in the FSA plan All full-time employees who work at least 40 hours per week are eligible to participate in the plan immediately upon hire. What is a Dependent Care Spending Account A Dependent Care Flexible Spending Account is used to pay for eligible dependent care expenses such as child care for children under age 13 or day care for anyone who you claim as a dependent on your Federal tax return who is physically or mentally incapable of self-care so that you (and your spouse, if you are married) can work, look for work, or attend school full time. What qualifies as an eligible expense under a Health Care FSA or a Dependent Care Spending Account Check the following page for eligible expenses. What if I do not use all the money in my account by the end of the year The Plan starts on January 1st of each year and ends on December 31st. According to IRS guidelines, any unused funds will be lost. Troy University gives you a grace period, which gives you until March 31st to file your claims. After that date, claims will no longer be accepted for the previous plan year. What happens if I terminate If you terminate employment with the company and you still have money that you have contributed in your medical reimbursement account, you may elect, through COBRA, to continue to access those monies for expenses incurred after your termination date through the end of the plan year as long as you continue to make your COBRA payments. Reminder Regardless of plan year, the only acceptable form of documentation for reimbursement for OTC drugs and medicines is a doctor’s prescription, as regulated by state law. Insulin, medial devices (crutches, blood sugar monitors, etc.) and items such as bandages, contact lens solution, denture bond, etc. remain eligible and will not require a doctor’s prescription. The new rule applies to all tax-advantaged health care accounts, including Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Archer Medical Savings Accounts (Archer MSAs). Please call 1-866-688-9727. Troy University 2013 Benefits Enrollment Guide 13
Page 1 and 2: 2013 Benefit Enrollment Guide an ov
Page 3 and 4: introduction Enrollment Current Emp
Page 5 and 6: Healthcare Benefits Medical (Blue C
Page 7 and 8: Healthcare Benefits Pre-Tax Cafeter
Page 9 and 10: Healthcare Benefits BlueCard Worldw
Page 11 and 12: Voluntary Life Insurance Voluntary
Page 13: travel assistance MEDEX ® Travel A
Page 17 and 18: etirement Mandatory Retirement Plan
Page 19 and 20: important notices Summary Plan Desc
Page 21 and 22: Troy University-54395/000 Coverage
Page 23 and 24: Common Medical Event If you need dr
Page 25 and 26: Excluded Services & Other Covered S
Page 27 and 28: Questions and answers about the Cov
Page 29 and 30: BlueCard PPO: Troy University Cover

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