Save Pretax Dollars

    The Flexible Spending Account is designed to cover specific out-of-pocket expenses you anticipate during the course of the Plan Year.  The Flexible Spending Account allows you to use pretax dollars to pay for health expenses not covered by insurance.  Expenses payable through the Flexible Spending Account include charges for contact lenses, eyeglasses, dental expenses, plus any deductibles and co-payments.  In fact, any medical, dental, hearing or vision expenses that would otherwise qualify as a deduction on your income tax return will qualify for reimbursement, as long as the expense is not paid by another benefit plan.  You may also pay for dependent care expenses.

Plan Year

    The Plan Year begins September 1, 2006 and ends August 31, 2007.  However, you have through October 15, 2006 to submit eligible expenses incurred during the Plan Year.

    You may deposit, pretax, up to $5,000 annually for dependent care and up to $4,000 annually for health care into your FlexSave account.  Deposits to your account will be made each pay period throughout the Plan Year.

How to Enroll

    Complete the Benefit Election Form.  If you have a spouse, include their social security number and a separate card for them will be provided.  Dependents living away from home may also receive a card if their social security numbers are included on the form.

Health Care Reimbursement

    The Flexible Spending Account allows you to pay for health care expenses, not covered by insurance, in pretax dollars.  Health care expenses is a broad category and includes the cost of most non-covered medical, prescription, dental, vision and audiology.

    You can use the IRS tax deduction for these expenses; however, you probably do not spend more than 7.5% of your adjusted gross income on health care expenses.  Therefore, the Flexible Spending Account can be used and provides an opportunity for savings.

Planning Carefully

    Once you decide to participate in the Flexible Spending Account, your decision must remain in effect until the end of the Plan Year.  Each following year you will have an opportunity to re-enroll if you choose.  Your payroll deduction amount may be changed during the Plan Year if you have a change in status.

    IRS approved changes in status include marriage, divorce, birth or adoption of child, death of spouse or child, or the termination of employee's or spouse's employment.

How to Receive Reimbursement

    Your FlexSave card may be used at any location that provides eligible products or services which accept MasterCard payments.

    Or:

    Submit a completed Request for Reimbursement Form and original receipts to:

          Fax:  248-539-8002

FlexSave, LLC

28104 Orchard Lake Road

Suite #140

Farmington Hills, MI  48334

What expenses qualify?

    The general rule is that allowable expenses are those medical, dental, vision and audiology expenses, not reimbursed by insurance plans.  Expenses can only be incurred by you, your spouse or a dependent listed on your federal income tax return.  A listing of eligible expenses pursuant to Federal Publication #502 are as follows:

• Medical Plan Deductibles or Co-Payments
• Dental Plan Deductibles or Co-Payments
• Vision Plan Deductibles or Co-Payments
• Prescription Co-Pays
• Child Care

Specific Eligible Reimbursement Expenses:  http://www.flexsaveamerica.com/Eligible%20Reimbursement%20Expenses.htm

(Note:  Some over-the-counter drugs qualify as eligible for reimbursement.  It is best to retain your receipts for all items purchased using your FlexSave card.)