To: Participating Boards and Eligible Employees
From: Howard Van Mersbergen, Vice President of Employee Benefits
New $500 Carryover
Beginning with unspent balances remaining at the plan year end of August 31, 2014, you may carry over up to $500 of your unspent balances remaining at the end of a plan year into the following plan year. Any amount over $500 remaining in your Health FSA as of the end of the plan year will be permanently forfeited as required under federal law and cannot be refunded to you. To benefit from the carry over feature, you must be eligible to participate in the Health FSA program in the following year.
The amount carried over to the following plan year, if any, will be determined once the deadline has passed for submitting claims for the prior plan year (November 30). Any carry over funds will not be available before then, but once they are available you may use them to reimburse your eligible medical expenses incurred at any time during the following plan year.
Automatic Enrollment if HSA Eligible
If you become eligible for a Health Saving Account (HSA) as part of your medical coverage you will automatically be switched from the full Health FSA to the limited Health FSA. The limited Health FSA only covers dental and vision expenses. By switching to the limited Health FSA you are eligible to make contributions to a HSA; if you were to remain in the full Health FSA you would not be eligible to make contributions to a HSA.
Deadline for Claims
For expenses incurred prior to August 31, the deadline for submitting claims is November 30, 2014. To print a claim form, go to www.CSIonline.org/benefits and select Forms under Flexible Benefits.
Contacting Us for Support
To access your account information online, select Links. If you have not yet registered for an online account, contact Sharon for your school code (one-time code needed for setting up online access). As always, if you have questions about the Flexible Benefits Plan or any previous Update, please visit our website at www.CSIonline.org - contact Sharon by phone at 616-284-3228 or 877-274-8796 x228, or by email at sfeikema@CSIonline.org.