Health Care Flexible Spending Account

THE HEALTH CARE FLEXIBLE SPENDING ACCOUNT (FSA) CAN REIMBURSE YOU FOR ELIGIBLE EXPENSES YOU OR YOUR ELIGIBLE DEPENDENTS INCUR THAT ARE NOT PAID BY YOUR EXISTING HEALTH CARE PLAN.

ELIGIBLE EXPENSES

Medical co-payments, co-insurance and deductibles
Routine wellness visits
Prescription expenses
Vision expenses (including eye exams, eyeglasses and contact lenses)
LASIK surgery
Dental expenses (excluding cosmetic procedures)
Orthodontia payments
Hearing expenses
Prescribed over-the-counter items

YOUR STEPS TO SAVINGS!

#1

REALIZE THE TAX SAVINGS

You can set aside pre-tax money into an account to be reimbursed for eligible medical expenses. Savings will depend on your tax bracket. For example, if you are taxed at 25% and you enroll for $2,750 you would save $687.50 in taxes

#2

ESTIMATE YOUR EXPENSES

Plan for your upcoming expenses and include your spouse and dependents, if eligible. A brief list of expenses can be found to the right. A comprehensive list of allowable expenses and an expense worksheet can be found at www.flores247.com.

#3

ENROLL AND MANAGE YOUR ACCOUNT

Contact your Human Resources Department to find out how to enroll for this benefit. Flores will send a custom Participant ID number via mail or email to help you manage your account. Contact information can be found Here.

FREQUENTLY ASKED QUESTIONS

IS AN HSA THE SAME AS AN FSA?

No. An HSA is a tax-deductible savings account that lets you save every year toward healthcare expenses. There's no use-it-or-lose-it rule, and you can grow your account through interest and investments. And it's portable, so you take it with you if you leave the company. To maintain an HSA, you must be enrolled in a high deductible health plan (HDHP).

WILL I LOSE MONEY IN MY HSA IF I DON'T SPEND IT?

No. There's no use-it-or-lose-it rule with an HSA, so every dollar that goes into it becomes available for your use.

WILL I HAVE A DEBIT CARD?

Yes. You will receive a Flores Benefit Card that will be linked to your HSA. You can use it to pay providers when you incur eligible services.

HOW DOES AN HSA SAVE ME MONEY ON TAXES?

Three ways:

Money goes in tax-free. You pay no tax on the money you or your employer put into your HSA, up to the IRS limits.
Money earns tax-free. You pay no tax on interest and investment returns earned in your HSA.
You pay no tax on HSA money when you use it to pay eligible healthcare expenses.

HOW WILL I ACCESS INFORMATION ON MY ACCOUNT?

You will access account information and manage your account on our website, flores247.com.

WHEN IS MY HSA FUNDED?

You or your employer can add money to your HSA at any time during the year. There's no enrollment period. Most employees fund their HSAs through payroll deductions.

WHO OWNS MY HSA?

You own it outright. If you leave the company for any reason, you own the account, including any interest earned.

CAN I CHANGE MY CONTRIBUTION AMOUNT DURING THE PLAN YEAR?

Yes. You will not be subject to the change-in-status rules applicable to other benefit accounts. You will be able to make changes in your contributions by providing the applicable notice of change provided by your employer.

IS TAX REPORTING REQUIRED FOR AN HSA?

Yes. IRS form 8889 must be completed with your tax return each year to report total deposits and withdrawals from your account. You do not have to itemize this form.

HOW DO I ACCESS THE FUNDS IN MY HSA?

Your HSA is similar to a checking account. You are responsible for ensuring money is spent on qualified purchases only and maintaining records. Payments can be made via check, online bill-pay, your Flores Benefit Card, or you can reimburse yourself if you pay out-of-pocket for an expense.

HOW DO I OBTAIN MY ACCOUNT DETAILS?

Website

Visit www.flores247.com and log in using Participant ID or User Name and password

MOBILE APP

Download Flores Mobile smartphone app Available for Apple or Android devices

PID & PASSWORD ASSISTANCE

Dial 800.840.7684