Flexible Reimbursement Accounts
This plan allows the employee to pay for payroll deducted health insurance premiums with "before tax" dollars. Accomplished by deducting the premiums before taxes are calculated, this plan reduces the amount of Federal, State, and Social Security withholding. Strict IRS guidelines apply. Participation in pre-tax is mandatory if enrolled in the health benefits plan.
Medical Care Reimbursement Account
This pre-tax deduction is designed for use in paying eligible medical, dental, and vision expenses which are not covered by health insurance. The reimbursements received are not subject to Federal, State, and Social Security taxes. The initial election period is within 30 days following the date of eligible employment. If you do not enroll within this period, you must wait until the next Open Enrollment or until you experience an event that permits a mid-year election change under your plan. Due to the tax advantages offered by this program, the IRS has strict guidelines for its use. Participation is optional. More information from the DHRM
NOTE: Over-the-counter drug expenses cannot be reimbursed through a Medical FRA starting Jan. 1, 2011 based on national health care reform legislation.
Medical FRA participants can opt to receive the WageWorks Health Care Card when they enroll in a medical reimbursement account. Two cards will be sent to you in the mail; one for you, and one for your spouse or eligible dependent. You should keep your cards to use each plan year until their expiration date. The WageWorks Health Care Card is a convenient reimbursement option that allows WageWorks to electronically reimburse eligible expenses under IRS guidelines. Simply swipe the WageWorks Health Care Card like you would with any other credit card. The amount of your eligible expenses will be automatically deducted from your Medical FRA. For over-the counter and prescription purchases the card will only be accepted at IIAS certified merchants. To find out if a pharmacy or drugstore near you accepts the card, please refer to the IIAS Store List at http://www.sigis.com/.
Dependent Care Reimbursement Account
This pre-tax deduction is for use in paying eligible dependent care expenses. The reimbursements are not subject to Federal, State, and Social Security taxes. An employee is eligible to participate as of the first day of the month following the date of hire. Due to the tax advantages offered by this program, the IRS has strict guidelines for its use. Participation is optional. More information from the DHRM
Wage Works Web Site
WageWorks, the third party administrator for the Flexible Reimbursement Program, has made available a website that will assist you with your FRA account. You must register and login at www.wageworks.com to obtain access to your account information. Once you are logged in you will be able to check your claim status, read benefit descriptions, view account balances and much more via the web.