The 2006 flex spending account (FSA) plan year is coming to an end and you might have an outstanding balance in your medical savings account. Not to worry. The Internal Revenue Service (IRS) will allow you to spend money remaining in your medical flexible savings account until March 15.
Reimbursements requested for 2006 medical and dental expenses must be mailed or faxed to Fringe Benefits Management Company (FBMC), the 2006 plan administrator, by March 31, 2007. Any 2006 contributions remaining in your account after all eligible expenses for the plan year and grace period have been reimbursed will be forfeited.
More information about your 2006 account is available on FBMC’s website ONLINE @ www.fbmc-benefits.com.
New for 2007
A reminder for all 2007 FSA participants, FBMC will no longer be the flexible spending account vendor for the upcoming plan year. Application Software, Inc. (ASI) is our new 2007 FSA administrator and will administer claims and reimbursements for 2007 accounts beginning in January.
Also new to 2007 FSA participants is the Washington flex debit card. When you apply for a card, it is programmed with the full amount in your account for the plan year. You use the debit card just like a bank card; the balance on the card decreases every time you use it.
IRS rules state that the debit card can only be used at vendors whose merchant category code (MCC) is a medical provider type, such as clinics, dentists, hospitals and pharmacies. The debit card may not work at grocery stores and discount stores.
To obtain your flex debit card, fill out the application available at the ASI website, www.asiflex.com/pebb, and send it directly to ASI.
If you have questions regarding the FSA or the vendors, please contact Benefit Services at 335-1760.
