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Flexible Spending Accounts allow employees to set aside funds into an account(s) and reimburse themselves for certain qualified expenses not covered by their medical, dental or vision plans. The amount that is set aside reduces current taxable income and increases spendable, take home pay.
To Find Out More about flexible spending accounts, follow the links below:
healthcare/dependent care/parking enrollment/change form . Open enrollment happens annually, usually in November with a January 1 effective date. Qualifying Event examples include but are not limited to marriage, divorce, birth or family member loss of coverage. Once enrolled, payroll deductions will be in effect until the end of the year. Employees must reenroll annually during open enrollment.
How to Submit Claims for Reimbursement
New claim procedure beginning January 1 - Go to takecareWageWorks.com and log in to your account, select the "Request Payment" option to create a PayMeBack claim form. When you fax or email claims, be sure to keep the original claim form and receipts for your records. If mailing claims, make sure you keep the originals and send copies of the claim form and supporting receipts.
What Happens to My FSA if I Leave or Retire from the City?
Under the provisions of the Consolidated Omnibus Reconciliation Act of 1985, or COBRA, you and your covered family members may choose to continue your FSA coverage after your coverage is scheduled to end. You have 60 days from the date of your COBRA election notice to elect to continue this benefit. If you do not respond within 60 days, your rights to continue coverage end. You must also continue to pay your FSA bi-weekly payment to continue this benefit. COBRA information will be mailed to your home. Be sure to keep your address current by submitting changes to Human Resources.
Questions? Call Wageworks toll free at 800-950-0105.