What is BASICFLEX?

BASICFLEX—is a flexible spending account which allows you to keep more of your income. You assign certain dollar amounts to be transferred from your gross pay. These dollars are set aside in a special account and used to reimburse you for medical and/or dependent care expenses.

What’s in it for ME?—If you have out-of-pocket medical expenses not covered under your health plan, i.e. office and prescription copays, dental, glasses/contacts, over-the-counter medicines, check out the Medical Reimbursement Account (MRA).

And There’s More!—If you pay a day care provider or nursery school to watch your dependent children (under the age of 13 or a legal dependent) while at work, don’t pass up the dependent care account (DCA). The savings can be significant!

How it Works—You elect to have an amount transferred from your gross paycheck, before taxes are calculated. This annual amount will be divided by the number of pay periods and transferred into your MRA and/or DCA. When you incur an eligible out-of-pocket expense or pay your day care provider, use your Flex Credit Card or submit receipts and receive TAX-FREE dollars. Please refer to the “Guide to BA-SICFLEX” for more details! (Loren, please attach the file: FSA Guide to BASIC FLEX here)

Here is additional information regarding Flexible Spending Accounts (FSA) –

Guide to BASIC FLEX
FlexCard Q & A
FSA Reimbursement Guidelines
FSA Over-the-Counter Changes
Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) Interaction

For more information, please go to the BASICFLEX website @ www.basiconline.com