Flexible Benefits Program (Discovery Benefits)
Eligible employees (20+ hours per week) can save money by converting unreimbursed medical expenses and dependent care expenses from an after-tax to a before-tax basis.
To better service our employees, we will be transitioning our current October – September benefit plan year to a January 1 through December 31 plan year effective January 1, 2020. This will be beneficial in a variety of ways; lining up our deductible and out-of-pocket accumulations on the calendar year, assist us with the 1095-C reporting which is based on the calendar year, and providing and aligning our Open Enrollment with other employers for family insurance planning purposes.
In anticipation of this plan year change, we will be implementing a short plan year on our Health Care and Dependent Care Flexible Spending Plans effective October 1, 2019. With this being said, you will be able to enroll in this flex plan year for October 1, 2019 through December 31, 2019 and claims incurred during this 3 months will be eligible for reimbursement. Due to the 3-month plan year, the annual maximums will be $675 for the Health Care Flex Plan and $1,250 for the Dependent Care Flex Plan. We will hold open enrollment beginning November 18, 2019 through December 6, 2019, for the January 1, 2020 – December 31, 2020 plan year. The annual maximums for 2020 will be $2,750 for Health Care Flex Plan and $5,000 for the Dependent Care Flex Plan.
You are eligible to carry over a minimum of $50 to a maximum of $500 into the next medical flex plan year. The does not limit you to electing the full amount for the next years' plan. The rollover option is only available if you continue to enroll in each flex plan year. You cannot skip a plan year and have funds rollover. This would include the “short” plan year we had for October – December 2019.
In November 2019, an email will be sent out from the HR Department to all employees eligible to participate and enroll for the 2020 plan year. New employees that are hired after the open enrollment period are eligible to enroll and any employees that experience a qualifying event, may enroll or make changes to their current status. For more information, contact Paulette Kerzmann or (701) 323-4072.
Eligible Expenses for medical or dependent care - search here.
The following guides/links can be found on the iVisions site: