Putpre-taxpayinFlexSpendaccounts
e
tosaveon your 2010 income taxes
H
ByDEBORAHSTAYMAN
Enrollment
Yourwindowofopportunityforsaving
ToenrollineithertheHCSAccountor
e
moneyonyour2010incometaxesopens
theDCAAccount,beginbyestimating
a
September21,andclosesNovember16.
yourannualout-of-pocketcosts,andthen
l
That’stheopen-enrollmentperiodfor
decidehowmuchmoneytohavewithheld
t
flexiblespendingaccountsthatallowyou
fromyourpaycheck.Estimate
h
tosetasidepre-taxearningstoreimburse
conservativelybecause,ifyoudon’tfile
yourselfforhealthand/ordependentcare
2010expenseclaimsforreimbursement N
expensesin2010.Enrollmentis
oftheentireamount,youwillloseany
voluntaryandnooneisenrolled
remainingfunds.
o
automatically.So,evenifyouenrolledlast
Youcanenrollineitherorboth
t
yearfor2009,youmustenrollagainnow
programsonlineat
e
ifyouwanttoparticipatein2010.
DCAAccount
www.flexspend.state.ny.us.Thereareno
TheFlexSpendingAccount(FSA)isa
Ifyoupayacaregivertocareforyour
paperformstomailin.Youcanalso
s
programPEFandthestatenegotiatedto
child,elderlyparent,ordisabledspouse
enrollbycalling(800)358-7202anda
helpmemberssavemoneyontheirtaxes.
whileyouwork,youcansetasideupto
customerservicerepresentativewilltake
TheFSAhastwobenefits,theHealth
$5,000inpre-taxsalarythroughpayroll
yourapplication.Youmaye-mailany
CareSpendingAccount(HCSAccount)
deductiontoreimburseyourselfforthese
additionalquestionsto
andtheDependentCareAdvantage
expenses.
fsa@goer.state.ny.us.
Account(DCAAccount).
Examplesofexpenseseligiblefor
EnrollmentintheDCAAccounthasthe
DCAAccountreimbursementincludechild
Claims
addedadvantagethatthestatehas
careexpenses(uptoage13),summerday
Youhavethreeways–online,faxor
agreedinthePS&Tcontracttocontribute
camp,before/afterschoolprograms,adult
mail– tosubmitclaimsforeligible2010
$300to$800tothisaccountforyouin
daycare,homeaide,andhousekeeperor
expensesifyouenroll.
2010,dependingonyourstatesalary.
cook(theselasttwomustprovide
Submitreimbursementrequestsonline
Howmuchyoucouldsaveonyour
custodialcaretobeconsideredeligible
forboththeHCSAccountandthe
2010incometaxesdependsonyour
expenses).
DCAAccountthroughwww.myFBMC.com.
annualincome,thenumberof
Theemployercontributionfor2010is:
Uploadscannedimagesofcompleted
dependentsyouclaimonyourtaxes,and
•$800ifyourstatesalaryisupto
claimformsalongwithscansof
theamountofmoneyyoucontribute
$30,000;
throughpayrolldeductionstoyour
•$700ifyourstatesalaryis$30,001
supportingdocuments.Submitting
HCSAccountand/orDCAAccount.
to40,000;
reimbursementrequestsonlineisfast,
YoumaynotusemoneyfromyourFlex
•$600ifyourstatesalaryis$40,001
easyandsecure,andwillhelpyoureceive
Spendingaccountstopaydirectlyfor
to50,000;
yourreimbursementssooner.Ormailor
eligibleexpenses.Youmustpaythe
•$500ifyourstatesalaryis$50,001
faxclaimsforyoureligible2010expenses,
expensesfirstandthensubmitclaimsfor
to60,000;
andreceivereimbursementbycheckor
reimbursementfromyourHCSAccountor
•$400ifyourstatesalaryis$60,001
directdeposit.
DCAAccount.
to70,000;and
It’sveryimportanttoestimateyour
•$300ifyourstatesalaryis$70,001
eligible2010expensescarefully,because
ormore.
youwillloseanymoneyleftoverinthese
accountsafteryour2010expensesare
Verify family eligibility by Oct 5
reimbursed.
IfyouhavefamilyhealthcoverageundertheNYSHealthInsuranceProgram,you
HCSAccount
mustsubmitverificationofyourcovereddependents’eligibilitybyOctober5.
Ifeligible,youmaycontributeany
Thecostofcoveringineligibledependentscansignificantlyraisepremiumsforboth
amountfrom$100to$4,000annuallyin
thestateandenrollees.
pre-taxdollarstoaHCSAccountto
Acontractor,Budco,washiredbythestateDepartmentofCivilService(DCS)to
reimburseyourselfforout-of-pocket
reviewtheeligibilityofdependentscoveredunderNYSHIP.InearlyJuly,Budcomailed
medical,dental,vision,orhearingcosts
packetsofmaterialtoverifydependenteligibilitytoNYSHIPenrolleeswithfamily
notreimbursedbyhealthinsurance.
coverage.
Someexamplesofallowablecostsare
Ifyouhavequestionsabouttherequireddocumentation,callBudcoweekdays
prescriptiondrugcopayments,dental
betweennoonand8p.m.at(888)358-2198.Ifyoulacksomeofthedocumentation
implants,andorthodontiafeespaidto
required,Budcomaybeabletosuggestalternative“proofs.”
non-participatingproviders,deductibles,
Ifyoudon’trespondbythedeadline,oradependentisdeemednoteligiblebecause
lasereyesurgeryandcontactlenses.
ofinadequatedocumentation,thedependent(s)willlosecoverageandyoumaybe
Reimbursementforcertainover-the-
requiredtorepayclaimsthatwerepaidbytheEmpirePlanorHMOforthedependent,
counterdrugsandsuppliesisalso
andyoumightfacecivil,criminaland/ordisciplinaryaction.
available.Alistoftheseeligibleitemsis
Detailedinformationisonlineatwww.cs.state.ny.usunderNewsandNotifications,
onlineatwww.flexspend.state.ny.us.
andatwww.pef.orgunderHealthBenefits.
www.pef.org TheCommunicatorSeptember2009—Page11
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