Flexible Spending Accounts

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Flexible Spending Accounts

• Welcome!

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ASI

• New FSA administrator for calendar year 2007
• Pam Mallory, Chief Operations Officer
• This is our One Thing
• Located in Columbia, Missouri
• Customer Service
• 5am 5pm, Monday-Friday, Pacific time
• 7am 11am, Saturday

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Agenda

• FSA Overview/Benefit
• Transition
• New with ASI!
• Open Enrollment
• ASI Contacts

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FSA Overview/Benefit

• Benefit Pre-Tax Deduction
• Eliminates Federal, State Social Security tax
  on qualified costs of medical care
• Deferred Comp defers taxes/FSA eliminates taxes
• Combined taxes of 23 or more saved on every
  dollar deducted/spent on qualified medical
  expenses!

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Qualified Medical Expenses

• Medical care provided for health, dental, vision,
  hearing prescriptions
• For you, your spouse (if filing joint tax return)
  qualified tax dependents
• Co-pays, deductibles, coinsurance, non-covered
• Big items Rx, eye surgery, glasses, orthodontics
• Plan the amount before enrolling!
• Known, re-occurring, predictable expenses!

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FSA Overview
HCFSA CLAIM PROCESS
Sign up for Direct Deposit ... quicker access
to your reimbursements
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(No Transcript)
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Fax or mail to ASI along with
a written statement from the provider.
ASI P O Box 6044 Columbia, MO 65205-6044
Fax[phone]
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Receive payment
Deposited directly into your bank account or paid
by check
Payments are sent within one day of receipt of
complete qualified claim, effective the following
banking day.
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E-mail
Direct deposit only
Get off the snail mail, get on the fast tract. -
e-mail
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Personal Account History
www.asiflex.com/pebbClick on Key your P.I.N.
(Provided on your enrollment confirmation) No
identifying information provided such as name,
address, employer, or Social Security
Number Accessed by P.I.N. provided with
confirmationUpdated each night
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FSA Educated Planning

• HCFSA CAUTIONS
• Dont assume all medical expenses are qualified
• Be conservative when estimating expenses
• Do under-estimateDont over-estimate
• Net forfeitures become property of WA at close of
  year
• Do your homeworkvisit the web, refer to your
  enrollment guide, or CALL ASI at 1-800-659-3035

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Transition

• FMBC will process claims for services provided
  during 2006 or grace period (1-1-07 to 3-15-07)
• Claims against the 2006 account must be filed by
• March 31, 2007 with FBMC
• Claims for services provided January 1, 2007 or
  after should be filed with ASI to access 2007
  funds
• Claims mis-filedreturned to employee

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New with ASI

• Next-day claims processing
• Direct deposit of reimbursements
• Email notice of reimbursements
• New web site specific to Washington Flex
• On-line account access using PIN
• Toll-free fax line for claims
• Toll-free phone number for customer service

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FSA Open Enrollment

• 2006 Deductions end December 31, 2006
• Employees must re-enroll to participate for 2007
• Full calendar year 2007!
• Deadline for enrollment is November 30, 2006
• New, on-line enrollment!
• Easy to use
• Enrollment confirmation printed at end of process

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FSA Open EnrollmentEmployee Communications

• Web site information
• Overview of the plan, 2 pages
• Online Enrollment Instructions/Checklist
• Enrollment Guide plan details
• Links to IRS Publication 502, qualifying expenses
• Link to qualified dependents definitions
• Link to online enrollment site
• Tax savings calculator

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FSA Open EnrollmentProcess

• Employee enrolls on-line by November 30, 2006
• Employee social security number is used for
  enrollment claims
• ASI reports election data to HCA Higher-Ed
  institutions for January payroll
• ASI sends confirmation of enrollment to
  participants

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FSA Open EnrollmentConfirmation of Enrollment

• Mailed to enrollees home address prior to
  January 1, 2007
• Confirmation of enrollment, including PIN
• Claim forms
• Web site account access instructions

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ASI Contacts

• 1-800-659-3035
• 5 am to 5 pm, Pacific time
• Live person answers the phone
• Customer service reps handle claims issues
• Pam Mallory
• pam_at_asiflex.com
• transition enrollment
• Lisa Wasson
• Lwasson_at_asiflex.com
• Eligibility, terminations, changes in status

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More Information

• Washington Flex web site www.asiflex.com/pebb
• Call 1-800-659-3035
• Email - asi_at_asiflex.com

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Q A