your flexible benefit program take care ® by wageworks
TRANSCRIPT
Your Flexible Benefit Program
take care® by WageWorks
Flex benefits overview
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Why you’ll want to participate
How it works
What is a flexible benefit plan? It’s a benefit provided by your employer that lets you
set aside a certain amount of your paycheck into an account before paying income taxes.
During the year you can use funds in the account to pay for: qualified healthcare expenses not covered by insurance day-care expenses for a dependent child or elder so you
can work
Elections can only be made/changed during open enrollment or after a qualified family status change, as your plan allows.
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What expenses qualify? The Health FSA is used to pay for expenses not
covered by insurance.
These include expenses you pay for you and your family: Doctor’s Office Visits Prescription drugs Prescribed Over-the-counter (OTC) medication Eye exams and surgeries Glasses and contacts Dental and Orthodontics And more
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What expenses qualify? The Dependent Care FSA is used to pay for work-
related day care expenses.
These include expenses you pay for your qualifying dependents: Day care/nursery school Before/After school care Summer day camp/Summer day care Elder day care
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What is the biggest advantage?
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You can save 25-40% on payroll taxes.
The portion of your salary that you elect to put into the plan is not taxed. You save:
Federal income tax
State and local taxes (where applicable)
Social security tax (assuming the employee’s salary is below the maximum social security wage base).
When can I use the money in my account?
Total annual Health FSA election is available to use
on the first day of the plan year.
Day-care elections are available each time a
contribution from your paycheck is made to your
Dependent Day-care account.
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How to sign up for your benefits
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How do I enroll?
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Go to FSAWorks4Me.com/takecare to see how much you can save by contributing to your flex accounts: Health FSA Dependent Day-Care FSA Other benefits your plan may offer
Sign up during open enrollment (via BeneTrac)
Contact your Human Resource representative with questions
How to access your funds
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Accessing Your Account Funds During The Plan Year
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Pay By Card • Use at point-of-service for qualified health care expenses• Great for co-pays, prescriptions & other eligible out-of-pocket
expenses not covered by the health plan
Pay Me Back • Traditional Claims reimbursement• Payments made daily• Check reimbursement or Direct deposit
Managing your account
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Web site Interactive voice Customer Service Representative
Participant Website
Check account balance Create a claim online Print forms Sign up for direct
deposit
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takecarewageworks.com
Participant Services
1-800-950-0105 Interactive voice – 24 hours a day
Customer Service Representative8 a.m. – 7 p.m. Eastern time.
[email protected] a.m. – 7 p.m. Central Time
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Questions?
Thank You!
take care® by WageWorks