Did you know you can pay for out-of-pocket healthcare, dependent care, and commuter costs with pre-tax dollars? Flexible Spending Accounts allow you to set aside pre-tax contributions through payroll deduction to pay for eligible expenses. They also help reduce your taxable income and are easy to use with a point of sale debit card.
The money that you contribute to your FSA is deducted from your paycheck in equal amounts bi-weekly. Your contributions are deducted before Federal, State, and Social Security taxes are withheld from your pay.
TRI-AD is our new FSA administrator, replacing Navia from the previous plan period.
Flexible Spending Accounts normally has a “use it or lose it” rule. Any money that you set aside in your Healthcare, Dependent Care, or Commuter/Transit FSA that is not used or reimbursed for claims incurred during the plan year will be forfeited.
Visit the eligibility list on TRI-AD’s FSA Store for a list of covered expenses.
The Healthcare Flexible Spending Account allows you to pay for eligible healthcare expenses that are not covered by your medical, dental, and vision insurance plans with tax-exempt funds. Such expenses may include deductibles, copays, coinsurance, prescriptions, and now over-the-counter medicines.
You may contribute up to $2,750 per plan year (plan year: June 1, 2021 – May 31, 2022).
The FSA Debit Card makes using your Healthcare FSA dollars quick and easy. The card deducts each payment directly from your FSA account. You may be asked to submit a copy of your detailed receipt as proof of an eligible expense.
If you pay for your eligible expenses out-of-pocket, please submit a claim form to TRI-AD with a copy of your receipt. Keep your receipts in case of an IRS audit.
The Dependent Care FSA is a great way for you to pay for eligible expenses related to the care and supervision of your child or elder dependent. Such expenses include nursery schools, preschools, before and after-school care, day camps, and eldercare.
The maximum amount you may contribute is $5,000 annually or $2,500 if married and filing separately.
The Commuter FSA allows you to pay for eligible commuter expenses including parking, subway, train, ferry, and bus expenses. The maximum you may contribute is $270 per month.
Please note: Commuter FSA payroll deductions will be taken in the first 2 pay periods of each month, for a total of 24 equal payments.
Bellevue associates are eligible to either participate in the Commuter FSA -OR- the ORCA Pass / on-site parking subsidy, not both.
You may submit your eligible expenses online (fastest method), by fax, or by mail. Log in to your account with TRI-AD to file an online claim or to print a claim form. Regardless of the submission method you use, remember to keep a copy of all claims and receipts for your records.
Do you want to receive your FSA reimbursement even faster? Be sure to enroll for Direct Deposit on the TRI-AD website. Direct deposit can be made to either a checking or savings account and new enrollments typically take 10 – 14 days to activate. You’ll receive paper checks during the activation period. Unless you choose to cancel it, your direct deposit will continue from year to year for as long as you are enrolled in the spending account plan(s).