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Insurance Education Part #6

Administered by Fringe Benefits Management Company (FBMC)

Facts•Get more “spendable” income out of paycheck

•Must re-enroll in spending accounts every year during enrollment period Annual enrollment Open enrollment•May enroll or make changes in coverage due to approved special eligibility situation

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•Pretax payment of state’s health plans, State Dental Plan, Dental Plus and Optional Life premiums (for up to $50,000) Monthly administrative fee: $.28 Once enrolled, do not need to re-enroll

Must “dis-enroll if do not want to continue

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Administered by Fringe Benefits Management Company (FBMC)

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Features•Unreimbursed Medical Expenses Flexible Spending Account (FSA)

•Dependent Care Flexible Spending Account (FSA)

•Health Savings Account (HSA)

Administered by Fringe Benefits Management Company (FBMC)

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Medical Spending Account•$5,000 maximum annual contribution -- some exceptions apply

•$3.50 monthly administrative fee•Must be employed by participating employer continuously for one year to participate

Administered by Fringe Benefits Management Company (FBMC)

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•Eligible expenses Copayments, coinsurance, deductibles for health and dental (including orthodontics, if medically necessary)

Vision care Annual physical exams

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Administered by Fringe Benefits Management Company (FBMC)

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Prescription copayments Out-of-pocket dental fees Mail-order prescription copayments Certain approved over-the-counter (OTC)

medicines Cosmetic services not covered

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Administered by Fringe Benefits Management Company (FBMC)

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Filing Methods for Reimbursement• Mail claims to FBMC

P.O. Box 1878 Tallahassee, FL 32303

• Fax claims to FBMC 888-800-5217

• Use EZ REIMBURSE® Card (for Medical Spending Accounts only)

• Direct deposit available for reimbursement of expenses

Administered by Fringe Benefits Management Company (FBMC)

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EZ REIMBURSE® Card Facts

• No claims to file• FBMC mails EZ REIMBURSE®

Card to subscriber’s home

• $10 annual fee deducted from Medical Spending Account

Administered by Fringe Benefits Management Company (FBMC)

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• Eligible medical expenses Documentation may be required For example (subtracted at point-of-

sale)• Copays • Deductibles

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Administered by Fringe Benefits Management Company (FBMC)

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Grace Period•Applies to Medical Spending Account and limited-use Medical Spending Account

•Subscriber can incur expenses and use unspent “2008 money” through March 15, 2009

Administered by Fringe Benefits Management Company (FBMC)

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•Claims submitted will be deducted from unspent 2008 money before claims deducted from 2009 money Exhaust 2008 monies first File 2008 claims before filing 2009 claims during Grace Period

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Administered by Fringe Benefits Management Company (FBMC)

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•To receive reimbursement from unspent 2008 money, subscriber must submit: All 2008 claims first Then, 2009 claims they want paid from unspent 2008 money

•Must ask for reimbursement and submit documentation by March 31st

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Administered by Fringe Benefits Management Company (FBMC)

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Administered by Fringe Benefits Management Company (FBMC)

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“Limited Use” Medical SpendingAccount•Available to Savings Plan participants only

•$3.50 monthly FBMC administration fee

•Health Savings Account subscriber not eligible for EZ REIMBURSE®

Card•Subscriber may set aside up to $5,000 for vision care and dental expenses - exceptions apply

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Administered by Fringe Benefits Management Company (FBMC)

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Dependent Care Account•$5,000 maximum per year•$3.50 monthly administrative fee

•Available for dependent care expenses for child under age 13 or an older dependent unable to be left alone while employee (or spouse) works

Administered by Fringe Benefits Management Company (FBMC)

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• Covers services provided in: Daycare center Someone’s home or employee’s home Summer day camps (tuition,

kindergarten and overnight summer camps NOT eligible expenses)

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Administered by Fringe Benefits Management Company (FBMC)

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• Cannot use with federal and state tax credits

• Must incur expense within calendar year

• Unused funds do not carry over to next calendar year (“use it or lose it”)

• No grace period applies

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Administered by Fringe Benefits Management Company (FBMC)

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Contact FBMC• Call: 800-342-8017

Internet or Integrated Voice Response available 24-hours-a-day, seven days a week

• Visit FBMC Web site:

www.myFBMC.com

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Administered by Fringe Benefits Management Company (FBMC)