Open Enrollment 2007 - FlexElect Reimbursement Accounts

To enroll in a FlexElect reimbursement account for next year (even if you currently have one), you must submit an enrollment form to your personnel office during open enrollment.

FlexElect offers two types of reimbursement account:

• Medical reimbursement account
• Dependent care reimbursement account

You can sign up for one or both accounts. Forms are available on our FlexElect page.

With either account, when you enroll you specify an amount of money to be deducted from your paycheck each month. This money goes into an account you use to pay for certain types of out-of-pocket expenses, summarized below. These deductions are pretax, which allows you to reduce your taxable income in 2008.

The process for using your account is easy: submit a claim for reimbursement after you've incurred an eligible expense, along with the receipt or other required documentation. You'll receive a reimbursement check in the mail.

Before you enroll, review the FlexElect materials carefully. You can only use FlexElect deductions to pay for certain types of expenses. If you don't claim the full amount of funds in your FlexElect account by the deadline, you forfeit the remaining money. You can avoid forfeiture by making sure the monthly deduction amount you authorize is well within the amount you estimate you'll spend on eligible expenses in 2008.

What kind of expenses can I pay for with a Medical Reimbursement Account?

• copays for doctor's office visits and prescriptions
• orthodontic treatment
• eye glasses and contacts
• laser eye surgery
• Refer to the FlexElect Handbook for a longer list and details on eligibility

What kind of expenses can I pay for with a Dependent Care Reimbursement Account?

• Daycare for a dependent child under 13
• Elder care for a dependent parent
• Care for a disabled dependent
• Refer to the FlexElect Handbook for details on eligibility and what's covered

Check with your personnel office for details and forms.

Updated September 20, 2007 at 2:44 PM.