BENEFITS AT A GLANCE
Troup County Schools offers employees two Flexible Spending Accounts (FSA’s) – a Health Care Account and a Dependent Child Care Account. Flexible Spending accounts provide a way for you to pay for certain unreimbursed health care and dependent child care expenses with tax-free dollars. You contribute before-tax dollars directly from your pay to either or both Flexible Spending Account.
Why? Because you save money since the contributions are made before taxes — This is comparable to every dollar $1.00 you elect only affecting your take home pay by about $0.70.
All with the Convenience of a MasterCard! Current FSA Participants must keep their card until the imprinted expiration date. Annual Elections are credited each year on January 1st. Replacement Cards are $7.50 and will be deducted from your FSA Account.
HERE’S HOW IT WORKS:
You can enroll in one or both of the FSA plans during annual Open Enrollment with deductions on a “pre-tax” basis from each paycheck.
Incur an eligible expense and pay the provider with your Mastercard™ NOTE: You will be required to submit an Explanation of Benefits for charges that cannot be automatically verified as 1) Pharmacy Expense 2) Co-Pay amount or multiple.
If an eligible provider does not accept MasterCard™ file a paper claim, or Upload through Wealthcare Portal or Medcom APP where you can access your accounts to view your account transactions
ELIGIBLE AND INELIGIBLE EXPENSES
Examples of eligible and ineligible expenses for Medical FSA Click on Health Savings Account in the dropdown menu and use filter to better define your search.
Examples of eligible and ineligible expenses for Dependent Care FSA Click on Dependent FSA in the dropdown menu and use filter to better define your search.
Frequently Asked Questions about FSA
CONVENIENCE OF A MASTERCARD!
The Debit MasterCard eliminates the need for you to pay up front for qualified expenses and then wait for reimbursement from your Flexible Spending Accounts. You can also access your accounts on-line to check your balances and view a history of your personal transactions at www.medcombenefits.com. (Registration ID TROUPC) or download the free MedCom App for your smartphone.
New FSA participants will receive a MedCom MBI MasterCard in the mail shortly before the being of the new plan year. Current FSA Participants must keep their card until the imprinted expiration date expires. Annual Elections are credited each year on January 1st. Replacement Cards are $7.50 and will be deducted from your FSA Account
MANUAL CLAIMS/CLAIM FORM
Prefer to save up and file at one time? Simply complete a paper Claim Form, then send it one of the following ways:
1) Email MedcomReceipts@emedcom.net
2) Fax to 1-866-598-7800
3) Mail to MedCom Flex Dept., P.O. Box 10269, Jacksonville, FL 32247-0269
4) Upload through the www.medcombenefits.com or Medcom APP
(Create a FSA Account with Registration Code MCOTROUPBOE)
FOR ANY QUESTIONS, CONTACT:
Kathy Veal, 706-882-2864 or 800-523-7135, kathyveal@houze.org
PLAN RULES AND GUIDELINES
Summary Plan Description, Amendment 1 (Medical Maximum), Amendment 2 (Rollover), Amendment 3 (Medical Maximum Increase)
More detailed information on Health Care FSA accounts
More detailed information on Dependent Care (Childcare) FSA accounts
MAXIMUM CONTRIBUTION
Reminders: Health Care Accounts and Child Care Accounts are completely separate. You cannot use money set aside in your Health Care account for Child Care expenses and vice versa.
Eligible expenses must have been incurred during the plan year and claims must be filed within 60 days after the end of the plan year.
MEDICAL FSA ACCOUNTS
| Annual Maximum 2023 Health Care/Medical FSA – $2,850/year |
| The ROLLOVER feature is included in your FSA Plan. Don’t worry about losing unspent funds (up to $570 in 2023) in your Medical FSA Account at the end of the Plan Year. $570 or less will rollover into the next Plan Year. RUNOUT Period goes through March 1. Any unused Rollover dollars will be credited to your account after the Runout Period! |
CHILD CARE/DEPENDENT FSA ACCOUNT
| Dependent (Child Care) FSA – $5,000/year or $416.66/month Reduces to $2,500/year if married and filing separate tax returns |
| Caution: Dependent Care Flexible Spending Accounts are subject to the Internal Revenue “use-it-or-lose-it” rule. Eligible expenses must have been incurred during the plan year, but you have sixty (60) days after the end of the plan year to file your claim. |
| Dependent Daycare FSA Information – Printable |
ARE RECEIPTS REQUIRED? YES
Yes, as requested. Employees will receive requests for receipts when a charge cannot be automatically identified as an eligible expense at a Pharmacy or the charge amount does not match a copay. Receipts or documentation must include the name of the provider; the name of the person for which the expense was incurred; the nature of the expense, to verify its necessity; the date the expense was incurred; and the amount of the expense not eligible to be paid by insurance).
Understanding Receipt Request Timeline and FAQs about Receipt Requests
THE IRS REQUIRES YOU TO MAINTAIN AND SAVE YOUR RECEIPTS AND DOCUMENTATION OF EACH EXPENSE.
MEDCOM WEALTHCARE MOBILE
Benefits in your pocket! This app gives you easy access to your Medcom benefits anywhere, anytime. Use the same username and password that you setup on MedCom’s WealthCare Portal! Just download, login, and go!
View all of your benefit account(s) recent transactions, balances, election information, claims filing deadlines, and more. You may also view transactions that require receipt documentation that may need to be submitted.
Additional features include opting in/out to receive alerts via text messaging, email, or both! These alerts could include information when your debit card has been mailed, when your password to the portal/mobile app has been reset, card transaction denials, and more
RECURRING EXPENSES?
Regular recurring expenses in the same amount can be setup to be approved automatically without having to provide a receipt to substantiate the charge each time it is incurred. A Recurring Reimbursement claim form must be completed and submitted to MedCom with one of your rece