FSA & SUPPLEMENTAL INSURANCE
FLEXIBLE SPENDING ACCOUNTS PROVIDED BY
The Flexible Spending Account (FSA) gives you the option to use pre-tax dollars to be reimbursed for out- of-pocket health care expenses that are not covered by a health, dental or vision insurance policy. You have the option to enroll in the Medical Expense FSA or the Dependent Care FSA. Please see the following information to determine which FSA best fits your needs. The Medical Expense FSA allows you to pay for medical, dental, vision and other “health and welfare” expense with pre-tax dollars. For example, you can use the money in this account to pay for your copays or deductible, as well as the cost for items that are not covered by your insurance, but are approved by the IRS (see IRS publications 502 and 969). You may elect to set aside up to $1,000 per year into your Medical Expense FSA. Please note, if you do not use the entire amount that you have elected to set aside within the calendar year, you can only rollover up to $500 to the next plan year. Dependent Care FSA allows you to use your pre-tax dollars to pay for qualified dependent care. A qualified dependent is under the age of 13, or a spouse/dependent who is disabled and cannot care for themselves and live with for more than 6 months of the year. You can contribute up to $5,000 per family per year ($2,500 if you are married and do not file a joint tax return) in the Dependent Care FSA. To see a full list of qualified Dependent Care FSA expenses see IRS publication 503.
AFLAC SUPPLEMENTAL INSURANCE
Aflac is insurance that helps cover expenses major medical doesn’t. It provides predetermined benefits that are paid regardless of any other insurance you have.
The Concrete Company provides employees with the option to purchase Aflac Supplemental insurance plans that pay in addition to any other insurance you may have. This coverage is paid for by you. See below for examples of plans available:
• Accident • Cancer Plan • Hospital Indemnity • Intensive Care • Life • Short and Long-Term Disability
CONTACT YOUR HR REPRESENTATIVE FOR MORE INFORMATION.
18 | The Concrete Company Benefit Guide
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