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welcome to money plus training for benefits administrators this presentation contains a brief description of pipa's insurance benefits the plan of benefits documents and benefits contracts contain complete descriptions of benefits this includes the health and dental plans as well as all other insurance benefits their terms and conditions govern all health benefits offered by and through piba this overview is not meant to serve as a comprehensive description of piva benefits you should refer to the benefits administrator manual the insurance benefits guide and the money plus tax favored accounts guide for more specific information the information in this presentation includes details for normal plan provisions however the covid 19 relief bill which was signed on december 27 2020 allows for changes to flexible spending accounts more details about those changes are available in the covid19 relief bill summary for fsa's document this document is available at piba.sc.gov publications under employer let's talk about money plus the state's flexible benefits program which is administered by asiflex money plus is an irs approved tax favorite accounts program that allows subscribers to save money on eligible medical and dependent care costs subscribers fund their accounts with money deducted pre-tax from their paychecks the program includes the pre-tax group insurance premium feature and three flexible spending accounts medical spending accounts msa limited use medical spending accounts and dependent care spending accounts dcsa as well as the health savings accounts for those enrolled in the state health plan savings plan we will go over each of these a little later in the presentation full-time active employees are eligible to participate in all of the money plus program features to participate in a health savings account subscribers must be enrolled in the savings plan to participate in a limited use medical spending account subscribers must be enrolled in the savings plan and a health savings account new employees complete their money plus enrollment as part of the hiring process either online or on an active notice of election form employees may enroll in money plus through my benefits during the annual open enrollment period or special eligibility situation employees who enroll in an hsa must open a bank account with central bank and provide a validation code from central bank to complete the enrollment employers will use ebs to finalize the enrollment and must provide their number of pay periods piba sends daily enrollment and eligibility files to asi flex employees enrolled in a flexible spending account must re-enroll each year if they wish to continue contributing employees do not have to be covered under the state health plan to participate in a flexible spending account they may use the funds in their account to pay for eligible expenses for their eligible spouse and dependent children generally if an employee enrolls in a flexible spending account his elections remain in effect for the entire plan year unless he experiences a qualified status change employees who enroll in a health savings account hsa can carry over all funds from one year to the next as mentioned earlier employees must be covered under the savings plan to enroll they can enroll anytime and change their contribution amount anytime throughout the year up to once per month employees have limited circumstances for starting or stopping a flexible spending account or changing the amounts they contribute any changes employees make to their accounts must be consistent with the qualifying event that initiates the change for example a participant could increase his msa or dcsa if adding a newborn changes may be submitted in ebs or by completing a notice of election form and must be made within 31 days of the qualifying event employers must also provide the annual number of pay periods let's look at the pre-tax group insurance premium feature the money plus pre-tax group insurance premium feature allows employees to pay premiums for themselves and their dependents for health dental vision as well as the tobacco use premium on a pre-tax basis they may also pay premiums for the first 50 000 of their optional life coverage using this feature dependent life insurance premiums cannot be paid pre-tax there is no fee to participate in the pre-tax feature once an employee enrolls he does not need to re-enroll each year an employee may enroll when he is hired during an annual open enrollment period or within 31 days of a special eligibility situation now let's look at the medical spending accounts or msas for short with a medical spending account an employee can set aside up to two thousand seven hundred and fifty dollars each year to pay for eligible medical expenses there is a 2.32 monthly administration fee 2021 participants can carry over up to 550 dollars into the next plan year all funds are available on january 1 of a new plan year or on the first day of coverage for new hires and participants have until march 31st of the following year to submit claims eligible msa expenses include deductibles coinsurance and copayments medically necessary expenses and prescription medications and approved over-the-counter medications a complete list of eligible expenses can be found on the asiflex website here's how the carryover of up to five hundred and fifty dollars in unused funds works an employee contributes two thousand dollars to his msa in 2021 and incurs only one thousand four hundred and fifty dollars in eligible expenses during the year he can carry over the five hundred and fifty dollars to two thousand twenty two he can then re-enroll and contribute the maximum in 2022 and keep the 550 carryover the employee must submit valid claims incurred by december 31 before march 31st of the following year participants will forfeit funds over 550 left in the account after the reimbursement deadline now let's look at limited use medical spending accounts individuals enrolled in the savings plan who open and make contributions to a health savings account can also enroll in a limited use medical spending account the contribution limit is two thousand seven hundred and fifty dollars annually and there is a two dollar and thirty two cent monthly administrative fee participants can carry over up to five hundred and fifty dollars to the next plan year participants must submit valid claims incurred by december thirty one before march 31st of the following year just like with msas participants will forfeit funds over 550 left in the account after the reimbursement deadline all funds are available on january 1 of a new plan year or on the first day of coverage for new hires eligible limited use medical spending account expenses include expenses not covered by the savings plan such as dental and vision care costs the limited use medical spending account carryover works the same as the carryover for a regular medical spending account participants can carry over up to and fifty dollars to two thousand twenty two they can then re-enroll and contribute the maximum in 2022 and keep the 550 carryover employees must submit valid claims incurred by december 31 before march 31st of the following year remember participants will forfeit funds over 550 dollars left in the account after the reimbursement deadline now let's talk about the asi flex card the isi flex card a debit card issued at no cost to msa participants can be used to pay eligible medical expenses when signing up for an msa or limited use msa participants will receive two cards to activate the asi flex card participants should call the toll-free number on the card sticker and set up a pin a participant can order additional cards by logging into his asiflex account the visacard may be used as either a credit or debit card if the card is lost or stolen the participants should report it to asi flex immediately participants are now required to use the card and use of the card is not paperless additional documentation is needed per irs requirements when using the card participants should ask for an itemized statement of service that includes the providers and patient's names the date and description of the service and the amount the participant owes it's important that participants ask for the itemized statement at the time of service and that they keep their paper copy or take a picture of the statement with a mobile device for their records participants should send documentation to asiflex only upon request now let's look at the dependent care spending account the dependent care spending account allows employees to pay dependent care expenses with pre-tax income the contribution limits are based on the participants tax filing status for those who are married but file their taxes separately the maximum annual contribution is two thousand five hundred dollars for single head of household and married filing jointly employees the maximum annual contribution is five thousand dollars the dependent care spending account has a two dollar and thirty two cent monthly administrative fee participants have until march 15th to spend funds contributed in the previous year all claims must be submitted by march 31st and any funds not used before the end of the grace period are forfeited there is no carryover provision employees cannot take state and federal credits if they are participants in the dependent care spending account an eligible expense will not be reimbursed until there is enough money in the account to cover it examples of eligible dependent care spending account expenses include day care fees for children and adults summer day camps and before or after school program fees a complete list of eligible expenses can be found on the asi flex website now let's look at submitting claims there are four ways participants can submit claims to asi online through the mobile app by mail and by fax asi flex processes claims within three business days participants can sign up for email and text alerts as well as direct deposit through their online asi flex account here's how to submit a claim online participants should go to www.asiflex.com sc money plus once there select online access account detail then participant account detail participants will be prompted to sign in to their account under participant services they will select file a claim and follow the prompts to upload scanned documentation and submit an electronic signature finally participants may save the confirmation the asi flex mobile app is easy and convenient to use the claims can be submitted right from the provider's office first participants should sign into the app then they will select file claims and simply follow the prompts finally participants will take a picture of the documentation on their mobile device and upload it different types of expenses require different types of documentation per irs requirements for expenses covered by insurance an explanation of benefits commonly known as an eob or itemized statement serves as documentation for expenses not covered by insurance participants will need an itemized statement that includes provider name and address patient name date of service description of service and dollar amount over-the-counter drugs and medicines and over-the-counter medical supplies require an itemized merchant receipt for prescriptions participants will need a receipt from the pharmacy credit card receipts canceled checks balance forward statements or paid on account statements are not acceptable forms of documentation asi flex card users do not submit claims they provide documentation upon request by asiflex documentation requirements are different for asi flex card users irs rules do not require documentation for the following prescription copays that match state health plan copays recurring transactions at the same provider for the exact same dollar amount over-the-counter health products purchased at merchants with inventory information approval system which identifies fsa eligible products blue cross blue shield of south carolina and imed claims that match card transaction amounts exactly asi flex card users should submit documentation only if requested by asi flex if documentation is needed card users may submit it to asi flex using one of the following methods asi flex mobile app asi flex online a toll free fax and usps mail card documentation requests are emailed and posted to an online secure message center a participant has 52 days to respond to the documentation request the initial notice is sent approximately 10 days after asiflex receives the transaction notification a reminder notice is sent to the participant 21 days after the initial request a deactivation notice is sent 21 days after the reminder if asiflex does not receive the requested documentation any future claim submissions will be offset by the outstanding amount next up is the health savings account or hsa employees enrolled in a savings plan can enroll in a health savings account contributions accumulate in an hsa and can be used to pay medical expenses incurred during the period in which the ahsa is open the account can be used to pay expenses for dependents even if the dependents are not covered under the savings plan employees have access to their account balance at any time if an employee uses the hsa funds for non-health care expenses the funds are subject to tax the 2021 contribution limits are three thousand six hundred dollars for individual coverage and seven thousand two hundred dollars for family coverage employees ages 55 and older can contribute an additional 1 000 per year if an employee is age 55 or older has family coverage and covers his spouse who is also age 55 both he and his spouse can contribute an additional one thousand dollars per year the health savings account has a one dollar monthly administrative fee and a 1.25 monthly bank fee the bank fee is weighed once you have a balance of 2 500 dollars central bank is the custodial bank for hsas participants must open an account with central bank when they enroll to do so participants should go to sc hsa.centralbank.net and select open hsa button in the upper right corner of the webpage the site easily walks the participant through setting up the bank account a validation code from central bank is required to complete enrollment if the participant previously participated in a medical spending account he must have a zero balance in his msa before he can contribute to an hsa there are several options to receive distributions from an hsa account the first is online bill pay at schsa.centralbank.net this method allows the participant to pay the provider through the bill pay center and to reimburse themselves for any qualified expenses the next option is to use the mastercard debit card for the account participants receive a card for each signer on the account and can use the card anywhere mastercard is accepted it's important that participants retain the receipt for their records the last option is to use central bank mobile app the app allows the participant to pay bills check balances and make deposits electronically funds in an hsa always earn interest once the account has a balance of one thousand dollars or more participants may invest the funds central bank offers a wide range of mutual funds in a variety of asset classes participants also have access to an online investment hub mutual fund prospectuses and morningstar reports let's talk about the asi flex employer portal to access the employer portal go to employer.asiflex.com or www.asiflex.com sc money plus asiflex provides login credentials to employers email sc.asiflex.com for assistance each employer is responsible for reporting to asiflex the actual amount of each payroll deduction every payroll cycle asiflex processes payroll deduction files within one business day of receipt of the files this requirement does not apply to employers whose payroll is submitted through the comptroller general's office the money plus employer payroll user quick guide provides detailed information on how to submit payroll files and deductions when and where to remit deductions and how to respond to discrepancy reports the guide and payroll file formats are available on the asi flex website there are two ways employers can submit payroll files use a common file format to transmit data or enter your payroll deduction data through the asiflex employer portal for controller general employers people will send the enrollment file to the cg's office and the cg will submit payroll deduction files to asiflex discrepancy reports are posted immediately in the asi flex employer portal once a discrepancy report is posted employers must review and respond within two business days if transmitting data via a common file the preferred method of responding to a discrepancy report is to add a comment in the field next to the discrepancy on the actual report then save the file in its original file name and upload it to the employer portal employers may also email changes to sc data at asiflex.com there are several types of discrepancies the contribution sent for a participant is different than the expected amount provided by piba a record is received on the payroll deduction file for an employee for whom asiflex does not have enrollment information on file a record is missing on the payroll deduction file for a participant for whom asiflex expects to receive a contribution asiflex does not have record of an ein or ssn received on the payroll deduction file other reports on the employer portal include the complete balance sheet discrepancy report and the no hsa report the complete balance sheet discrepancy report shows the difference between the actual contribution asiflex has received year to date as of the last payroll cycle and the expected amount based on the annual election amount for each participant the no hsa report shows participants who are enrolled in an hsa but who have not opened an account with central bank now let's look at the ebs reports asiflex year-to-date contribution report show year-to-date contributions for msa and dcsa participants and is produced daily the money plus enrollment data report shows employees annual money plus elections and is produced monthly these reports are available under managed groups then enrollment reports in eds additionally the money plus pre-tax feature report shows employees who participate in and opted out of the pre-tax group insurance premium feature this report is produced monthly and can also be found in ebs finally let's take a look at the resources available to you and your employees participant resources are available at peeba.sc.gov publications under money plus these include flyers and the money plus tax favored accounts guide asi flex provides the following resources to participants live help which is available monday through friday 8 am to 8 pm and saturday 10 a.m to 2 p.m the website is available at www.asiflex.com sc money plus participants can also email asiflex asiflex also provides employer-only contacts the day-to-day assistant account manager is maureen mo willow and the account manager is gordon sherrard employers can also contact the backup account manager team finally jason house is the data team lead for payroll deduction file processing many online resources are also available at www.asiflex.com sc money plus such as program descriptions asi flex card resources faqs and communications eligible and ineligible expenses lists link to the fsa store expense estimator and tax savings calculator links to irs forms and publications claim and other forms employers can get in touch with piba by calling 803-737-6800 select option four then option one for the employer support line we also encourage you to read piba update our e-newsletter for employers you can also find more information about piba on our social media pages you can find us on facebook twitter youtube instagram and linkedin you