Human Resources

DESCRIPTION:

The Unreimbursed Medical Account is a pre-tax benefit reimbursing employees for out of pocket medical expenses.  Expenses that are deemed to be medically necessary and that are not reimbursed by insurance may be deducted through a Section 125 Cafeteria Plan.  The reimbursement amount is based solely on the employee’s contributions to the spending account. 

ELIGIBILITY:

All full-time employees are eligible to elect the Unreimbursed Medical/Flexible Spending Account. 

ENROLLMENT:

New Hires:  All full-time employees are eligible to apply for coverage upon hire.

Qualifying Family Status Changes:  Changes to coverage may be made within 30 days of a qualifying family status change.  Examples of a qualifying family status change are birth or adoption of a child, marriage and divorce.

Annual Open Enrollment:  Each fall there is an annual open enrollment period in which employee can add, cancel or change enrollment.

You must re-enroll in the plan each year.

COST:

Employee decides on the amount of his/her per pay period contribution with the annual maximum contribution limit of $2500.

IT IS IMPORTANT THAT EXPENSES ARE PROPERLY ESTIMATED  FOR THE UNREIMBURSED MEDICAL EXPENSES ACCOUNT BECAUSE UNUSED AMOUNTS AT THE END OF EACH PLAN YEAR/GRACE PERIOD WILL BE FORFEITED.

BENEFITS:

• Tax-free reimbursement for out of pocket expenses deemed medically necessary.  Some of the types of expenses that qualify for tax-free reimbursement include medical supplies, contact lenses, eye exams, eyeglasses, orthodontic fees, physician fees, some over the counter drugs.
• Reimbursement for co-pays and deductibles for service.  NOTE:  Premium payments cannot be reimbursed.
• Employees do not have to wait for contributions to accumulate before filing for reimbursement. 
• Employees have 90 days after the end of the Plan Year to submit vouchers to clear the account.

CLAIMS:

Complete an expense voucher and mail or fax it to FlexCo, Inc.  Always be sure to include proof of expenses, such as copies of receipts, EOB, etc.  Keep a copy for your records.

QUESTIONS/CONTACT INFORMATION:

For questions about the benefits offered through this plan, contact your Benefits Specialist or contact FlexCo, Inc. directly.

FlexCo, Inc.
Barry Roe, Patrick Hickman
Tel:   800-552-3605
Fax:  501-223-9034

Email:  flexcoinc@sbcglobal.net

Forms:

Unreimbursed Medical Expense Voucher