Flexible Spending

Account

A flexible spending account is a Federal Government supported employee benefit that can reduce your income subject to Federal Income Tax. Therefore, you save money while at the same time, creating an account that can be used to pay for eligible health care and dependent care expenses for you and your family. Redeemer Health offers a Health Care FSA, Dependent Care FSA, and Commuter Spending Account.

When you enroll in a Flexible Spending Account, your deductions are taken on a pre-tax basis. Therefore, you pay less in federal taxes.

Full Time and Part Time employees are eligible for Flexible Spending accounts beginning the first day of the month following your date of hire. Interested employees are required to complete the enrollment process to participate in this benefit.

The Health Care Spending Account is used to reimburse you for eligible out-of-pocket medical expenses. The maximum contribution is determined annually. 

The Dependent Care Spending Account is used to pay for eligible child or elder care expenses including daycare, before/after school care and summer day camp. The maximum contribution is determined annually.

The Commuter Spending Account is used to make qualified transit or parking purchases such as transit passes, tickets, fare cards, and parking facilities that you use while commuting to and from work. The monthly maximum is determined annually. All employees working in New Jersey are eligible for commuter benefits.

To complete your FSA enrollment, you must create an account using ADP Health & Welfare benefits portal located on the intranet or https://my.adp.com. Click the “Sign Up” button and use the registration code: hrhs-welcome. Once you have determined your annual FSA election and have completed the online enrollment, Redeemer Health will deduct the amount from your pay in equal amounts throughout the year, before taxes.

You have 30 days from your hire date to log into ADP Health & Welfare to enroll in Flexible Spending Accounts or as a result of a life event (marriage, birth, job status change, etc.) and annually during open enrollment.

You are eligible to participate in all FSAs if you have qualified expenses. All flexible Spending Accounts require that you save all of your itemized receipts to show proof of an eligible expense.

The amount you elect to contribute is unique to your health care, dependent care, and commuting situation. Look at what you typically spend each year on out-of-pocket health care and child care.  Visit www.HealthEquity.com/Learn/FSA or call 1-800-228-5762 to speak with a spending account specialist

The maximum contribution is determined annually.

Because FSAs have tax benefits, the IRS places guidelines on them. As a general rule, any funds that are left in your Healthcare FSA or Dependent Care FSA account at the end of the plan year are forfeited. Plan carefully when determining how much you want to contribute.

If you have terminated employment or moved to an ineligible status, and still have money left in your Healthcare FSA or Dependent Care FSA, you have 90 days from the date of termination to submit receipts. Any qualifying expenses you had during the plan year while you were still employed would be eligible for reimbursement.