Flexible Spending Accounts

 

Administered by

Discovery Benefits (beginning January 1, 2011)

(866) 451-3399

www.discoverybenefits.com

 

A Flexible Spending Account enables you to pay for out-of-pocket health care or dependent daycare expenses with pre-tax payroll contributions.  FSAs are exempt from federal taxes, Social Security (FICA) taxes and, in most cases, state income taxes.  Your tax savings and the effect on your paycheck will depend on your personal situation (e.g., your household income, tax bracket, and the amount you contribute to the account).

 

IMPORTANT: If you enroll in the Health Care or Dependent Care FSA, you will receive a Discovery Benefits Debit Card, which you can use to pay for most eligible FSA expenses.  It is very important that you visit the Discover Benefits website and register for immediate access to your personal account(s).  The registration process is very easy - all you have to do is follow the instructions to set up your User ID and Password.  Once you are registered, you will always have immediate access to your account balance, the status of expenses paid with your Debit Care, and expenses you have submitted for reimbursement via the Reimbursement Request Form (below).

  • You will receive one Debit Card.  If you need additional cards for a spouse or an enrolled child (age 18 or older), you must submit a request for additional card(s).  You can request additional cards via the Discovery Benefits website (after registering and entering your spouse or dependent child's name and date of birth).  You can also request additional cards via the Additional Debit Card Request Form.
     

  • You will see references to fees for additional cards.  As an SMU employee, you will not be charged for additional cards.
     

  • When you use your Debit Card, expenses will be processed as a Credit Card transaction - because your Debit Card does not have an associated PIN, required for Debit Card transactions.

 

Health Care Flexible Spending Account

 

The Health Care FSA allows you to set aside pre-tax dollars to pay for eligible health care expenses incurred by you, your spouse, and your eligible dependents.  Expenses for your domestic partner or his or her children will be eligible for reimbursement under your Health Care FSA if they qualify as your dependents for federal income tax purposes.  Refer to Eligible Health Care Expenses for additional information.

 

The maximum amount you can contribute annually to the Health Care FSA is $5,000, or $2,500 each if you and your spouse are both SMU employees.  Be sure to visit the Discovery Benefits website for important information on eligible expenses and how and when to use your Discovery Benefits Debit Card.

 

Discovery Benefits Forms

Additional Debit Card Request Form

Additional Debit Card On-line Request Instructions

Health Care FSA Eligible Expenses

Over-the-Counter Purchases - 2011 Changes

Reimbursement Request Form

Medical Necessity Form

FSA Receipt and Substantiation Form

Automatic Orthodontia Request Form

Direct Deposit Enrollment - Change Form

 

Dependent Care Flexible Spending Account

 

Child and dependent care is a critical issue and a large expense for many families who rely on child care to be able to work.  Many of us are also responsible for older parents or a disabled family member.

 

A dependent care spending account enables you to set aside before-tax dollars to pay for day care expenses for children under the age of 13 or for adult day care for a disabled spouse or other disabled dependent.  A maximum of $5,000 can be set aside in a dependent care spending account each plan year for married couples filing joint tax returns and single head of household tax returns.  Married couples filing separate returns are allowed to claim a maximum of $2,500 each.

 

Be sure to visit the Discovery Benefits website for additional eligibility criteria and information on how and when to use your Discovery Benefits Debit Card.

 

Discovery Benefits Forms

Dependent Care FSA Eligible Expenses

Auto Dependent Care Request Form

Reimbursement Request Form

FSA Receipt and Substantiation Form