Spending Accounts

 

Employees have the option to enroll in Health and/or Dependent Care Spending Accounts through ADP.

 

Spending accounts let you pay for certain eligible health and/or dependent care expenses using pre-tax dollars. They offer tax savings by letting you pay for out-of-pocket expenses with pre-tax money. This can mean savings of approximately 20%-40%, depending on your individual tax situation.

 

Health Care Spending Account (HCSA )

The Health Care Spending Account (HCSA) helps you save tax dollars on the health related treatment you and your family receive. Some of the eligible expenses include:

• Deductibles and co-payments not paid by any health or dental insurance in which you or your family members participate;

• Costs for procedures not covered or not covered fully by a health, dental or vision plan;

• Specialized equipment for disabled persons;

• Preventative care screenings;

• Contact lens and glasses;

• Laser eye surgery;

• Prescriptions;

• Mental health services;

• Physical therapy;

• Certain other IRS approved expenses

A few examples of expenses that are not eligible include:

• Cosmetic procedures/drugs

• Electrolysis

• Hair transplants

• Herbal supplements

• Insurance premiums

• Nicotine patches and gum

• Nutritional supplements

• Teeth whitening/bonding

• Vitamins

Important note: The IRS does not allow participation in Health Care Spending Accounts and Health Savings Accounts at the same time.

Dependent (Child) Care Spending Account (DCSA )

The Dependent (Child) Care Spending Account provides you with the opportunity to use tax-free dollars to pay for the care of your children under age 13 or other IRS eligible dependents while you and your spouse work or go to school full time.

Childcare services may include your cost to send a child to preschool, after school, or nursery school. Also, expenses for dependents of any age who are unable to care for themselves because of a physical or mental handicap are eligible. A person qualifying for this type of care must spend at least eight hours a day in your home.

Elderly dependent care may include your cost to send a dependent parent to an elderly daycare facility or to have someone to care for them in your home.

If you are married, both you and your spouse must be working or a full-time student during the time the care is

received. Your income tax return (long and short forms) will require you to include your dependent care provider’s name and tax number or Social Security number.

Exclusions and Limitations are detailed in the Enrollment Booklet.

Detailed plan information can be found in the Enrollment Booklet or at the GaBreeze link on the Team Georgia website.   Pricing per plan and coverage tier varies and is accessible on the Flexible Benefit Rate Chart

Enrollment is made by new hires within 31 days of hire date at GaBreeze Enrollment

Enrollment/Changes due to qualifying life events during Plan Year are made within 31 days of event at GaBreeze.

Current Employees not experiencing a qualifying life changing event must enroll online at GaBreeze during annual enrollment period only for benefits beginning the following Plan Year.

 

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