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Flexible Spending 125 Plan

Overview

Employees may elect to make pre-tax contributions to a flexible spending account, otherwise referred to as a or 125 plan.  By contributing to a flexible spending plan, participating employees may be reimbursed for medical/health-related expenses and dependent care expenses using the pre-tax dollars they have withheld from their paycheck.  Click here for a brochure that explains this benefit. 

The annual contribution limit to a flexible spending plan is $5,000 for medical/health-related expenses and $5,000 for dependent care expenses.  The flexible spending plan is administered on a calendar year basis (i.e., January 1 to December 31).  Starting January 1, 2014, participating employees may carry forward up to $500 in expenses to the following calendar year for reimbursement.  Click here for more information on the "Use it or Lose It" rules.  Note: Any unused funds above the $500 medical/health carry forward at the end of the year are surrendered to the District.

To enroll in the flexible spending plan, complete and submit the Flexible Spending Plan Enrollment Form to the Office of Human Resources.  To change your withholding amount during the year or to change your status, complete and submit the Change in Status/Change Election Form  to the Office of Human Resources.

Qualifying Medical & Health-Related Expenses

Click here for more information about the Claim Submission Guidelines and a list of the expenses that are eligible for reimbursement.  Click here for new guidelines related to Over the Counter (OTC) medications that are eligible for reimbursement.

Submitting Receipts for Reimbursement

To be reimbursed for qualifying medical and health-related expenses, employees must submit original receipts and a completed Flexible Spending Plan Reimbursement Voucher to:

Preferred Group Plans, Inc.
P.O. Box 15136
Albany, NY 12212-5136

To contact Preferred Group Plans directly with questions, call:

1-800-573-7474 or 1-518-641-0321
www.thepreferredgroup.com

Click here for more information about the Flexible Spending Plan, including a comprehensive list of the goods and services that qualify for reimbursement under the Flexible Spending Plan.