MoneyPlus

Are you leaving money on the table? MoneyPlus is a tax-favored accounts program that allows you to save money on eligible medical and dependent care costs. You fund the accounts with money deducted pretax from your paycheck. ASIFlex   administers the MoneyPlus program. This benefit is only available to active employees.

Pretax Group Insurance Premium feature

This feature allows you to pay insurance premiums for health (including the tobacco-use premium), vision, dental and up to $50,000 of Optional Life coverage before taxes come out of your paycheck. With this feature, you benefit from having less taxable income in each of your paychecks, which means you have more spendable income. Once you enroll, you do not need to re-enroll each year.

Dependent Care Spending Account

A Dependent Care Spending Account allows you to pay for daycare and other allowed costs for qualifying individuals so you and your spouse, if applicable, can work or look for work. Qualifying individuals are children younger than age 13 or a tax dependent of any age who is mentally or physically incapable of self-care. It cannot be used to pay for dependent medical care. You submit claims for reimbursements as you have eligible expenses. You can use your funds for expenses incurred January 1 to March 15 of the following year. You have until March 31 to request reimbursement from your previous year's funds, and will forfeit funds left in your account after the reimbursement deadline. You must re-enroll each year.

Medical Spending Account

The Standard Plan works great with a Medical Spending Account (MSA). Use your MSA to pay for eligible medical expenses, including copayments and coinsurance. As you have eligible expenses, you can use a debit card for your account. You can also submit claims for reimbursement. Once you sign up for an MSA and decide how much to contribute, the entire amount is available on January 1 or your effective date of coverage. You do not have to wait for funds to accumulate in your account before being reimbursed for eligible medical expenses.

You can use your funds for expenses incurred January 1 to December 31. You have until March 31 to request reimbursement from your previous year's funds. If you have money left in your account on December 31, you can carry over up to $640 of those funds into the next plan year. You must re-enroll each year.

Limited-use Medical Spending Account

If you have a Health Savings Account (HSA), you can also enroll in a Limited-use Medical Spending Account (MSA). You can use a Limited-use MSA to pay for dental and vision care expenses. Doing so allows you to save your HSA funds for future medical expenses. This account works the same as a traditional MSA and you must re-enroll each year.

Enrollment

You can enroll in MoneyPlus during:

• Your initial enrollment;
• Open enrollment in October; or
• A special eligibility situation.

Contribution limits

Administration fees

Reimbursement deadlines

¹Contribution limit for highly compensated employees is $1,600.