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WITH AN FSA easyIt’s to save

SIMPLE SAVEways • to •

Flexible spending accounts (FSAs) and dependent care reimbursement accounts (DCRAs)

FSAs & DCRAs:

Take advantage of tax savings by participating in a flexible spending account (FSA). You may elect to have a portion of your paycheck withheld on a pre-tax basis to pay for qualified medical expenses such as deductibles, co-payments, dental and vision expenses for you and your dependents. A dependent care FSA (DCRA) is offered for similar tax savings on qualified dependent daycare expenses.

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WHY FSAsAND DCRAs?

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A simple way to save

Significant savingsThe example scenarios below provide estimated savings if an FSA is used (assuming a 20% combined federal and state tax rate).

$1000 $500 $500

$1000 $1000 $5000

$5000

out-of-pocketmedical expenses

out-of-pocketmedical expenses

out-of-pocketvision expenses

vision and dental expenses

out-of-pocketdental expenses

child care expenses

child care expenses

tax savings$400

tax savings

tax savings

$1400

$1000(Examples only)

FSA O

NLY

FSA +

DCRA

DCRA

ONL

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Healthcare FSAFunds from a healthcare FSA can be used for qualified expenses including medical, dental and vision. For information about qualified expenses, visit www.HealthEquity.com/QME.1 With healthcare FSAs, the entire elected amount is available to you on the first day of the health plan year. You don’t have to wait for payroll deductions before paying expenses with your FSA.

Dependent care FSA or DCRAA DCRA allows you to set aside pre-tax dollars to pay for qualified dependent care expenses. The minimum annual DCRA contribution that Regions allows is $600, and the maximum annual DCRA contribution allowed is $5,000, or $2,500 if you’re married but filing separate tax returns. Funds may be used to pay for day care, preschool, elderly care or other dependent care. To qualify for a DCRA, the IRS requires that the dependent care is necessary for you and your spouse to work, look for work or attend school full-time, along with other requirements. DCRA funds may not be used for medical, dental or vision expenses for you or your dependents.

Learn more at:

HealthEquity.com/Regions

FSA OPTIONSYou have the opportunity to participate in two types of FSAs designed to maximize your savings and address your personal needs:

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1 Premiums and prepayment for long term care are not eligible for FSA. It is the member’s responsibility to ensure eligibility requirements as well as if they are eligible for the plan and expenses submitted. One should consult a tax advisor as individual factors and situations vary.

Regions healthcare FSA limitsThe minimum contribution for healthcare FSA contributions is $600, and the maximum contribution for healthcare FSA contributions is $2,600.

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HOW HEALTH CARE FSAs WORKSign upDuring Regions’ open enrollment periods, sign up to participate in a healthcare FSA. Select the option that best meets your needs and then determine the amount you would like to contribute from your pre-tax earnings. Get help estimating your expenses at www.HealthEquity.com/FSAworksheet.

ContributeRegions will withhold the determined amount of your pre-tax earnings contributed to your healthcare FSA. The amount withheld from your paycheck is equal each pay period.

Use your fundsWhen you incur a qualified expense, you may either pay with your HealthEquity Visa®

Reimbursement Account Card1 or submit the expenses through the HealthEquity online reimbursement tool. Remember to save all receipts; you’ll need them for reimbursements and validation of your expenses.

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Regions allows unused FSA funds remaining at the end of a plan year to be carried over to the next year. Claims must be incurred by March 15 and filed by April 15.

USE IT, OR LOSE IT

GRACE PERIOD

The Regions FSA is a use it or lose it plan. This means that any unused funds will be forfeited. For more details, see IRS publication 969 or consult a tax advisor.

©2013 - 2016 HealthEquity All rights reserved.

1 This card is issued by The Bancorp Bank, pursuant to a license from U.S.A. Inc. Your card can be used everywhere Visa debit cards are accepted for qualified expenses. This card cannot be used at ATMs and you cannot get cash back, and cannot be used at gas stations, restaurants, or other establishments not health related. See Cardholder Agreement for complete usage restrictions.

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FSA INSIGHTFSA eligibility All Full-Time, benefits eligible associates can participate in the FSA (with the exception of Core High Deductible Savings Plan participants), including associates not covered under the Regions’ medical plan.

Other qualified users In addition to your own qualified expenses, you may use your FSA funds to pay for those of your spouse and tax dependents.1 You may also cover the expenses of your children who are under the age of 26 at the end of the tax year.

Dental expenses FSA funds don’t have to be used just for medical expenses. You can use them for qualifying dental expenses, including exams, x-rays, cleanings and dental work. You can even use your FSA to pay for orthodontic services.

Vision expenses You can also use your FSA funds for vision expenses such as exams, prescription eyeglasses, contacts and even corrective eye surgery.

Archive your receipts online HealthEquity’s easy-to-use online portal allows you to upload and store receipts. The Regions FSA is integrated with your Regions health plan, which means you can even link your receipts to claims. Your receipts will remain stored in a safe, secure place, available for future reference and documentation.

©2013 - 2016 HealthEquity All rights reserved.

1 As of June 26, 2015, the Supreme Court of the US has ruled that same-sex marriage is considered legal throughout the US.

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HOW DCRAs WORKSign upDuring Regions’s open enrollment periods, sign up for a DCRA and determine the amount you would like to contribute for the year. The minimum annual DCRA contribution that Regions allows is $600, and the maximum annual DCRA contribution allowed is $5,000, or $2,500 if you’re married, but filing separate tax returns. Unlike a healthcare FSA, your annual DCRA funds aren’t available up front. Funds are only accessible as they are deposited with each payroll deduction.

Pay for carePay for your dependent care costs out-of-pocket, but make sure you save the receipts for reimbursement and validation. HealthEquity offers an easy-to-use ‘Documentation Library’ that allows you to upload and store receipts within the member portal

Submit for reimbursement Submit for reimbursement through the HealthEquity member portal or the ‘DCRA Reimbursement Form’. Recurring DCRA payments may be scheduled throughout the plan year with proper documentation. For more information, contact our account mentors at 877.288.0719.

USE IT, OR LOSE IT

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2

DCRA funds do not roll over from year-to-year. You must use DCRA dollars within the plan year or they will be forfeited.

©2013 - 2016 HealthEquity All rights reserved.

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Qualified healthcare FSA expenses are designated by the IRS. They include medical, dental, vision and prescription expenses. A list of common qualified expenses is included below. For additional examples, including non-qualified expenses, see our database at www.HealthEquity.com/qme.

To be considered qualified, dependents must meet one of the following criteria:

Children under the age of 13

A spouse who is physically or mentally unable to care for him/herself

Any adult you can claim as a dependent on your tax return that is physically or mentally unable to care for him/herself

A list of common eligible expenses is included below:

QUALIFIED FSA EXPENSES

QUALIFIED DCRA EXPENSES

• Acupuncture• Alcoholism (rehab, transportation for

medically advised attendance at AA)• Ambulance• Amounts not covered under another

health plan• Annual physical examination• Artificial limbs/teeth• Birth control pills/prescription

contraceptives• Body scans• Breast reconstruction surgery

following masectomy for cancer

• Chiropractor• Contact lenses• Crutches• Dental treatments• Prescription eyeglasses/eye surgery• Hearing aids• Long-term care expenses• Medicines (prescribed, not imported

from other countries)• Nursing home medical care• Nursing services• Optometrist• Orthodontia

• Oxygen• Stop-smoking programs• Surgery, other than unnecessary

cosmetic surgery• Telephone equipment and repair

for hearing-impaired• Therapy• Transplants• Weight-loss program (if prescribed

by a physician for a specific disease)• Wheelchairs• Wigs (if prescribed)

• Babysitter inside or outside household

• Before and after school or extended day programs

• Custodial childcare or eldercare expenses

• Day camps• Daycare centers

• Household associate whose services include care of a qualifying person

• Late pick-up fees • Looking for work-expenses • Preschool/nursery school

for pre-kindergarten • Sick-child care center • Summer day camps

7©2013 - 2016 HealthEquity All rights reserved.

HealthEquity Mobile app1 available for FREE at:• Apple App Store • Google Play

Regions_FSAs_&_DCRAs_Oct_2016

15 West Scenic Pointe Drive, Suite 100Draper, UT 84020

info@healthequity.comwww.HealthEquity.com©

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