Flexible Spending Accounts (FSA)

At H&H, we offer two options for Flexible Spending Accounts (FSA) – Medical and Dependent Care.

These employer sponsored plans allow associates to contribute pretax dollars from their paycheck and put them into special accounts that:

  • Are protected from taxes.
  • Are used to pay out-of-pocket family care expenses.
  • Reimbursement for expenses which may not be covered by benefit plans.

Medical FSA

Medical FSA may be used to set aside pretax dollars to pay for non-reimbursable medical expenses such as co-pays for physician visits, and out-of-pocket expenses for prescription drugs.

Eligibility

Full-Time Associates regularly scheduled to work at least 30 hours per week are eligible to enroll in Flexible Spending Accounts.

If elected, coverage begins the first of the month following a 60-day waiting period.

Eligible Associates may also enroll their: 

  • Spouse
  • Children up to age 26
  • Disabled children over the age of 26

How It Works

Associates may use this account to pay for eligible healthcare expenses for themselves and eligible dependents.

During open enrollment, Associates may choose to contribute up to $2,500 per calendar to this account.

Associates contribute to the account each payroll; however, Associates can access their full annual contribution at the start of the year.

A debit card is provided for qualified expenses during the year, or an Associate can pay out of pocket and file a claim for reimbursement.

Funds contributed to the FSA do not carry over from year to year. Under IRS rules, all FSA claims must be submitted for reimbursement or the money will be forfeited.

Dependent Care FSA

Dependent Care FSA may be used to set aside pre-tax dollars that are used to pay for daycare expenses for a dependent child under age 13, or the care of a disabled spouse or dependent of any age.

Eligibility

Full-Time Associates regularly scheduled to work at least 30 hours per week are eligible to enroll in Flexible Spending Accounts.

If elected, coverage begins the first of the month following a 60-day waiting period.

Eligible Associates may also enroll their: 

  • Spouse
  • Children up to age 26
  • Disabled children over the age of 26

Associates and their spouse must both work or be full-time students to qualify.

How It Works

During open enrollment, Associates may choose to contribute up to $5,000 annually.

Associates contribute to the account each payroll.

Reimbursement for eligible dependent care expenses can be submitted as needed by the Associate. Claims will be paid up to the balance that has been contributed to the account at the time of the claim.

Under IRS rules, all FSA claims must be submitted for reimbursement or the money will be forfeited.