What about...?
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Still not convinced? Here are the answers to some of the regular questions folks have when joining CareFlex Express. Take a look and then make the smart move to saving more money.
I can't afford to bring home less in my paycheck. Can CareFlex Express work for me?
How do I get reimbursed for my expenses?
What if I have to pay for something before I have saved enough money in my account?
What if things change during the year and I want to save more?
What if I don't end up needing all of the money I planned for?
What if I am not covered under my company's health insurance plan?
What happens to my accounts if I quit or am laid off or terminated?
How does CareFlex Express affect the dependent care credit on my annual tax return?
I signed up for the plan. Now what?
I can't afford to bring home less in my paycheck. Can CareFlex Express work for me?
Yes. Your net take-home pay will increase by the amount of taxes you did not pay. You may actually bring home more money in your check. Use our worksheet to find out more.
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How do I get reimbursed for my expenses?
CareFlex Express makes it simple to access your money. Your account comes with the CareFlex Express Mastercard. You can pay for the item or service with your card anywhere that Mastercard is accepted, or you can simply complete a claim form and mail or fax your form, along with applicable receipts to your Plan Administrator. Your reimbursement will be quickly processed and sent directly to you.
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What if I have to pay for something before I have saved enough money in my account?
For healthcare expenses, the annual amount you have elected to set aside is available to you from the moment you enroll. With Dependent Care Accounts, you may only withdraw as much as you have contributed to date.
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What if things change during the year and I want to save more?
Election changes may be made only with a qualified change-in-status, such as: marriage, birth, adoption, or a change in your or your spouse's employment status.
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What if I don't end up needing all of the money I planned for?
Any contributions that are not used during the plan year may not be paid to you in cash or used in a later plan year. However, with so many qualified expenses available to you, it is easy to max out your plan at the end of the year on things you regularly use anyway, such as over-the-counter medicines, vision care supplies, and more. Since you have account balance access available to you 24/7, it is easy to find out how much you may have left and form a plan to use it wisely.
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What if I am not covered under my company's health insurance plan?
You need not be enrolled in your employer's health insurance plan to take advantage of CareFlex Express.
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What happens to my accounts if I quit or am laid off or terminated?
You will continue to receive reimbursement for healthcare and daycare expenses that you incurred prior to the end of your employment with the company. Check your Summary Plan Description for any additional rights or benefits provided by your company's plan.
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How does CareFlex Express affect the dependent care credit on my annual tax return?
The effect on your annual tax return depends solely on your income, filing status, number of dependents and annual daycare expenses.
Keep in mind that the amount you elect for your Dependent Care Reimbursement Account reduces the amount, dollar for dollar, that you can claim as a credit on your tax return. Contact your plan administrator for further information.
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I signed up for the plan. Now what?
Once you turn your enrollment form in to your company's benefits manager, you will receive a Welcome Kit along with your CareFlex Express card in the mail within two weeks. The Welcome Kit contains instructions for online account access, a summary of your elections, and other helpful information.
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