Presentation on theme: "Presented By: Your Name Here Your Title Here. Instructions: Find and Replace Delete This Slide Before Presenting Getting Started: Enrollment presentations."— Presentation transcript:
Instructions: Find and Replace Delete This Slide Before Presenting Getting Started: Enrollment presentations can be shown to employees to help explain how to use their Choice Strategies plan. Before showing this presentation to employees, please customize it by finding and replacing the following: Group Name: Group Name Health Insurance Carrier: Carrier Plan Year: 01/01/2013-12/31/2013 Plan Start Date: 01/01/2013 FSA Maximum: $2,500
Flexible Spending Account FSA Plan Year: 01/01/2013-12/31/2013 Contributed through payroll deductions Use it or Lose it Eligible Expenses: –Medical –Dental –Vision –Prescriptions –Limited Over-the-Counter (OTC) products You can elect to contribute up to $2,500 pre-tax
End of Plan Year Flexible Spending Account 2 ½ Month Grace Period You have 2 ½ months after the FSA plan year ends to use any remaining funds for expenses that occurred within the current plan year or during the grace period Plan Year: 01/01/2013-12/31/2013 You may use your card for FSA eligible expenses during the grace period for any expenses incurred between the beginning of your plan year and the end of the grace period Example: Plan year ends on 12/31/13. You have until 3/15/2014 to use remaining FSA funds for dates of service that occurred during the 2013 plan year and through the Grace Period.
Dependent Care Account DCA Plan Year: 01/01/2013-12/31/2013 Contributed through payroll deductions –Pre-tax! Pay as you go – You can only spend what you have contributed. Eligible Expenses: –Custodial care of dependents while employee is at work You can elect to contribute up to: $2,500 if married, filing separate tax returns $5,000 if single OR married, filing jointly
Employee Savings Example Based on 13.34% Federal Income Tax, 7% State Income Tax, and 7.65% Social Security Tax Rate
Choice Strategies Card The Facts MasterCard Card activates upon first use If balance available and any shared responsibility portions have been met Employee and spouse automatically receive cards Separate envelopes Additional cards can be issued upon request Swipe as CREDIT vs. Debit for convenience If needed - PIN is accessible through Member Online Accounts under the My Card tab.
Using the Card Medical Providers Do not pay on the date of service, wait until you receive the Explanation of Benefits from Carrier.
Using the Card Prescriptions IIAS (Inventory Information Approval System) No Request for documentation on Rx charges if IIAS Approved Pharmacy is used. (List available on www.choice-strategies.com)www.choice-strategies.com
Submitting a Claim Need Reimbursement? Online – Faster Reimbursement! –Login to your Online Account –Select Submit a Claim –Fill our required fields –Upload Supporting documentation –Select Submit Email, Fax, or Mail –Fill out a Claim Form available under the For Members and Forms page on www.choice-strategies.com www.choice-strategies.com –Attach supporting documentation
Substantiation Requirements Documentation Requests Group Name is required by Federal Law to substantiate all claims. This means that purchases made with your Choice Strategies Card need to be supported with documentation Receipt Notification Process: Employees are sent requests via mail or email to provide documentation on card transactions. Supporting documentation requested may include: –Explanation of Benefits (EOB) –Rx Receipts –Provider Bills
Substantiation Service Free and Voluntary Allows Choice Strategies to view your Explanation of Benefits from the online account with Carrier Signing Up: 1)You must set up an online account with Carrier 2)Sign up for the Substantiation Service by provider your Carrier User ID and Password to Choice Strategies Use the online HIPAA Release Form under the For Members section and forms page on www.choice-strategies.comwww.choice-strategies.com To take advantage of our Substantiation Service, enroll online at: www.choice-strategies.com/substantiation-enrollment
Member Online Accounts www.choice-strategies.com Check Account Balances View Transaction History Upload Supporting Documentation Report Cards Lost/Stolen –Request reissue too! Submit Claims Online –Faster Reimbursement Edit Personal Information –Phone Number –Email Address –Direct Deposit –Mailing Address
Mobile App Access Your Information on the Go! Available For: –iOS Apple –Android You Can: –View account balances –View recent transactions –Submit claims –Upload supporting documentation
Contact Us! Member Services is Here to Help You! Phone: 1-888-278-2555 (Option 2) Monday-Thursday 8:00 am – 7:00 pm (EST) Friday 8:00 am – 5:00 pm (EST) Email: firstname.lastname@example.org@choice-strategies.com