Health Care Reimbursement Plan
The health care reimbursement FSA plan is a great way to help you save money pre-tax for annual medical expenses you may or may not foresee.
For all those not enrolled in Aetna's Savings Advantage medical plan, McClatchy offers a Health Care Reimbursement Plan (HCRP)- a type of FSA- to help off set medical expenses.
How can you lower your taxable income this year with your FSA?
Contributions to your FSAs are tax-deductible, and the funds are tax-free when used for qualified expenses. For example, if you contribute $2,000 annually to your FSA and your base salary is $30,000- you will only be taxed on $28,000 come tax season.
- FSA Claims
Use this form to submit expenses for reimbursement.
- Information Line: 888-678-8242
Still a little confused about out our health care reimbursement plans- see our FAQ below.
The annual amount you elect to contribute will be divided into equal amounts and deducted from your first two paychecks of each month on a before-tax basis for a total of 24 pay periods per year. As you incur and pay for eligible expenses, you submit claims for reimbursement with copies of your receipt(s) or Explanation(s) of Benefits to PayFlex, our FSA third-party administrator. PayFlex pays approved claims on a daily basis.
You can submit claims incurred between Jan. 1 and Dec. 31 against your account balance for the Plan year. You will have until March 31 of the following year, to submit claims to PayFlex for reimbursement.
In accordance with IRS regulations, money that is not claimed by the deadline will be forfeited.
Before enrolling during the annual Open Enrollment period, you will need to estimate the eligible health care and/or dependent care expenses you and your eligible dependents expect to incur during the upcoming 12-month period for both DCAP and HCRP beginning Jan. 1. It is important to do this carefully because any amounts left in your account(s) after March 31 of the following year will be forfeited. Current federal tax laws prohibit refunds of leftover account balances to participants as well as the transfer of funds from one FSA plan to another. The tax laws also prohibit the transfer of funds from one plan year to another.
Use the Savings Calculator to help you itemize unreimbursed health and dependent care expenses to assist in determining your health care spending account contributions and potential increase in savings.
You can contribute up to $2,650 to the HCRP based upon these guidelines:
- your contributions cannot be greater than your income or your spouse’s income;
- if your spouse is disabled or a full-time student, he/she is assumed to earn $250 per month for one eligible dependent, or $500 per month for two or
- if your spouse also participates in a Dependent Care Assistance Plan, your combined total deposits cannot exceed $5,000;
- if you and your spouse file separate income tax returns, your individual Dependent Care Assistance Plan is limited to $2,500.
The amount you elect to contribute cannot be changed during the Plan Year except under very limited circumstances. Contribution changes based on a change in status event are allowed only if the election change is necessary and consistent with the change in status. For the Health Care Reimbursement Plan, the change must also result in a gain or loss of health care insurance coverage. For the Dependent Care Assistance Plan, the change must also affect your dependent care expenses. All changes must be sent to your local human resources department within 30 days of the event.
Plan participants will receive a MasterCard from PayFlex. This card is called the “PayFlex Card”. The card can be used to pay for eligible healthcare expenses such as medical plan co-pays or deductibles, prescription drugs, certain dental expenses and/or prescription eyeglasses. The “PayFlex Card” is a debit card that will allow health care plan participants to make payments directly from their FSA account without having to pay for the expense out-of-pocket at the time of service and then remit claims for reimbursement. Please keep all of your receipts as you may be requested by PayFlex to produce receipts for some debit card transactions.
Services must be incurred before claims may be submitted. Health care claims must include a statement from the provider or insurance company (an Explanation of Benefits is preferred) which provides: the name and address of the provider; the name of the individual receiving treatment; dates of service; the participant’s financial responsibility after payment by the insurance company; and a description of the service.
The general rule for medical expenses is that the expense has to be for medically necessary purposes only. Cosmetic or optional expenses are not eligible. You may also use your FSA for long-term care premiums, COBRA premiums, retiree medical premiums, and Medicare premiums (but not for Medicare Supplement plans).
Check if your expense is eligible for reimbursement here.