|
Fringe Benefits Management Company (FBMC) provides you with IRS
tax-favored Flexible Spending Accounts (FSAs) to
stretch your medical-expense and dependent care dollars.
Contact Administrator:
Fringe Benefits
Management Company
PO Box 1810
Tallahassee Florida 32302-1810
1-800-342-8017
1-800-955-8771 (TDD)
1-850-514-5817 (fax)
www.myfbmc.com
Flex Spending Accounts feature:
-
IRS-approved
reimbursement of eligible expenses tax free
-
Per-pay-period deposits from your
pre-tax salary
-
Savings on income
-
Security of paying anticipated
expenses with your FSA.
Salary reductions made under a cafeteria plan, including
contributions to one or both FSA will lower your taxable income and taxes.
These reductions are one of the money-saving aspects of starting an FSA.
Depending on the state, additional state income tax savings or credits may also
be available. Your salary reductions will reduce earned income for purpose
of the federal Earned Income Tax Credit (EITC). To help you choose between
the available taxable and tax-free benefits, or a combination of both, consult
your tax advisor and/or the IRS for additional information.
1.Medical Care Assistance
Program (MCAP): MCAP allows you
to use pre-tax dollars to pay
eligible, medically necessary expenses that you, your spouse and your dependents incur during the plan year that are not
covered by your insurance plan or any other plan. Eligible employee:
State of Illinois employee working full-time or part-time 50% or greater,
receiving a paycheck from which deductions can be taken, and eligible to
participate in the state employee's group insurance health plan.
Minimum Deposit: $20 monthly ($240 annually) Maximum Deposit:
$416.66 monthly ($4999.92 annually)* $555.54 per month for university
employees paid over 9 months.
Eligible Expenses*
-
Ambulance service
-
Birth Control pills
-
Chiropractic care
-
Contact lenses
-
Dental fees
-
Doctor fees
-
Drugs
-
Eyeglasses
-
Hearing aids and exams
-
Injections and vaccinations
-
Optometrist fees
-
Orthodontic treatment
-
Over the Counter items
-
Smoking cessation programs/treatment
-
Surgery
-
Transportation for medical care
-
Weight-loss programs/meetings
-
Wheelchairs
-
X-rays
2.
Dependent Care Assistance Program (DCAP): DCAP enables you to use pre-tax dollars to pay eligible
dependent-care expenses you incur during the plan year for a child or an elder. Eligible employees:
State of Illinois employee working full-time or part-time 50% or greater,
receiving a paycheck from which deductions can be taken, and if you are married,
your spouse must also be gainfully employee, a full-time student, disabled and
incapable of self-care or seeking employment and have income for the fiscal year.
Minimum Deposit: $20 monthly ($240 annually) Maximum Deposit:
The maximum contribution depends on your tax filing status:
-
If you are married and filing separately, your
maximum annual deposit is $2,500
-
If you are single and head of household, your
maximum annual deposit is $5,000
-
If you are married and filing jointly, your
maximum annual deposit is $5,000
-
If either you or your spouse earn less than
$5,000 a year, your maximum annual deposit is equal to the lower of the two
incomes.
-
If your spouse is a full-time student or
incapable of self-care, your maximum annual deposit is $3,000 a year for one
dependent and $5,000 a year for two or more dependents.
Eligible Expenses*
After school care
Baby sitting fees
Day care services
In-home care
Nursery and preschool
Summer day camps
*Refer to the
flex spending website at www.myfbmc.com for a full listing of available expenses under each plan.
How
to Enroll:
Read
the FSA booklet to ensure your expenses meet the IRS/FSA requirements and are
eligible for MCAP/DCAP. During the
Benefit Choice Period, enroll in MCAP/DCAP by completing the appropriate forms
and submitting them to your Group Insurance Representative, Human Resource
Benefits Office at 618-453-6668. New employees may enroll within 60 days of their date of hire. Enrollment and
changes in enrollment are not permitted outside Benefit Choice Period unless an
employee experiences an eligible change in status. Contact your Group Insurance Representative for enrollment forms, FSA booklets,
or if you need to inquire about a change in status.
Specific
claim eligibility questions should be directed to the claim processor, Fringe
Benefits Management Company (FBMC) at 1-800-342-8017 (Monday - Friday, 6 a.m. -
9 p.m. CT).
How
FSA Reimburses:
Reimbursement will be processed within two business days from
the time FBMC receives your properly completed and signed FSA Reimbursement
Request Form. To avoid delays, follow the instructions for submitting your
requests located in the FSA material you will receive following enrollment.
MCAP/DCAP
reimbursement can be made through:
-
Direct Deposit: To
apply for direct deposit, complete the Direct Deposit Enrollment Form available from your
Group Insurance Representative, visit
www.myfbmc.com or call FBMC Customer Service
at 1-800-342-8017. Please note that processing your Direct
Deposit enrollment may take between four to six weeks.
A check payable to the
participating member and mailed to the address of record in the FSA system
By using the EZ Reimburse(MCAP ONLY)
This card allows FBMC to electronically
approve some eligible expenses to be deducted from you Medical Expense FSA.
There is a $20 non-refundable, annual fee for using the card. Some claims
may need supporting documentation. Review your Flex Spending Booklet for
further information.
Claim Submission:
Participants may print a blank FSA Reimbursement Request Form
(used for both the MCAP and DCAP plans) from any of the following websites:
Participants who need to substantiate EZ Reimburse @Card
transactions must complete the MCAP EZ Card Transmittal Cover Sheet.
Claim Submission
Completed and signed claims, along with the required
documentation, should be submitted to the claims processor either by fax at
1-850-514-5817 or via USPS at:
Fringe Benefits Management Company (FBMC)
PO Box 1810
Tallahassee FL 32302-1810
Deadline for submitting bills:
The participant has three months from the close of the plan
year (i.e. September 30) to submit claims for reimbursement. This
three-month period is referred to as the "run-out period." IRS regulations
require forfeiture of any funds not claimed by September 30th.
Grace Period - New!
As part of a change allowed under the Internal Revenue Notice
2005-42, the State of Illinois will be implementing a special "grace period"
beginning with the FY07 plan year (July 1, 2006 - June 30, 2007). The
grace period applies to all participants enrolled in the MCAP plan only.
Effective with this change, MCAP participants will be
permitted to submit eligible medical care expenses incurred through September 15
for reimbursement out of the prior plan year's MCAP account. As with all
claims, reimbursement must be received the end of the run-out period
(i.e. September 30).
Changes, Leave of Absence or
Terminating Employment:
Under some circumstance, you may make a mid-year election
change to your FSA elections, depending on the qualifying event and requesting a
change must be made within 60 days of the event. Contact your Employee
Benefits office at 618-453-6668 to notify them of a change and to do the
necessary paperwork. If you are going on a leave of absence or terminating
employment, special arrangements must be made to continue coverage.
Contact the Employee Benefits office at 618-453-6668 to make arrangements.
Important Information:
Annual re-enrollment in FSA is not
automatic. If you currently have a
Medical Care Assistance Plan and/or Dependent Care Assistance Plan account (s),
and wish to continue participating in the program, you must re-enroll during
Benefit Choice Period.
|