|
PREMIUM REIMBURSEMENT
If you have an individual contracted health plan that you pay, you may save taxes by pre-taxing the cost. Check with your Human Resource department to see if your plan has this feature.
How Does It Work?
To participate, you must determine the amount of premium you will pay during the plan year. This amount will be divided by the number of deductions in the plan year and deducted tax free. The expenses you elect must be for individually contracted health premiums for you, your spouse and/or dependents and the policy must be in your name. They can in no way be employer sponsored benefits. As you pay for the expense, you simply submit a declaration of coverage from the provider which indicates the policy is still in effect. In addition, you must submit proof that payment due has been made for the month(s) in the plan year. You will be reimbursed based on the balance in your individual account.
When you have incurred an eligible expense simply submit proof along with a Request for Reimbursement form. (Claim Procedures)
|
|
