Printer Friendly Send To A Friend

EMPLOYEE BENEFITS
    Call (800)227-3953

Flexible Spending Account

Employees may elect to have a specified amount of "before tax" dollars deducted from your paycheck each pay period. These amounts are kept in accounts with Intermountain Administrators, and you may use these funds to pay for anticipated expenses for:

1. Group medical insurance premiums
2. Out of pocket medical expenses
3. Dependent care expenses (daycare, elder care)

For employees with these types of expenses, you can save money on taxes by setting up a flexible spending account. However, the funds in your account must be used by December 31st or they are forfeited. Employees are eligible for this upon hire.

Employees may set up a Flex account during the month of December for the following plan year. The maximum reimbursement each year for a dependent care account is $5,000, and the maximum reimbursement each year for a medical reimbursement account is $3,000.

Eligible dependent care expenses are those incurred so that you or your spouse can work or attend school. The dependent for whom care is provided must be under the age of 13 or handicapped and be a tax dependent. Providers may include baby-sitters, day-homes, licensed day care centers, nannies, and housekeepers.

Medical expense reimbursement is available for most out-of pocket expenses not covered by insurance, including insurance deductibles and copayments.

Back to Employee Benefits