Your Spending Account
Agenda Welcome to Your Spending Account How the HRA (YSA) differs from the HSA (Bancorp) Top 5 HRA questions Your Spending Account Overview Proprietary & Confidential September 2014 1
Welcome to Your Spending Account (YSA) Your HRA/RHCA claim submissions are administered by Your Spending Account (YSA) which is managed by Benefit Express Aon Hewitt Benefit Express maintains the actual eligibility and enrollment information Log on to the Your Benefits Resources Website at http://resources.hewitt.com/fca with your user name and password or call 1-888-409-3300 Benefit Center representatives are available from 8 a.m. to 4 p.m., Eastern Time, Monday through Friday to assist you Proprietary & Confidential September 2014 2
How HRA (YSA) differs from HSA (Bancorp)
Health Savings Account (HSA) Health Savings Accounts are similar to a 401(k) retirement account for medical expenses. You can only have an HSA if you enroll in a highdeductible medical plan. Retirees and dependents age 65 and over are not eligible to enroll in a high-deductible medical plan, however HSA funds remain available for post 65 eligible claims. Funds may be used to pay deductibles, coinsurance, and certain other eligible healthcare expenses. You own the account. You can deposit money directly into the account (up to the IRS annual limit); Pension deduction not available. Money put into the account that s already been taxed is tax deductible. Money in the account can roll over from year to year. Has investment opportunities
Healthcare Retirement Account (HRA) A Healthcare Retirement Account is established by FCA specifically for retirees, spouses/domestic partners and surviving spouses age 65 and over Funds can be used to pay for medical insurance premiums (including Medicare Parts B and D, Medicare Advantage plans, Medigap policies, and other health care coverage such as dental, vision, and hearing) deductibles, coinsurances and copayments, OTC medications (with a valid RX) and supplies Your employer (in compliance with IRS guidelines) decides which expenses are covered by the HRA You don t have to pay taxes on money you get from an HRA used for qualified medical expenses Leftover money in your HRA can roll over to the next year Expenses must be incurred in current plan year to be eligible for reimbursement from the current year s funds No investment opportunities
How HRA differs from HSA HRA HSA Funded by FCA * FCA & Retiree ** Claims processing YSA Bancorp Interest No Yes Invest Funds No Yes Portable No Yes *Currently HRA funded by FCA up to $1,975 for Retirees and $1,750 for Spouses **Currently FCA contributes $500 single and $1,000 family coverage to the HSA
FCA Retiree Accounts with YSA HRA and RHCA Premiums for Medicare Parts B and D, Medicare Advantage plans and Medigap plans Premiums for other health care coverage such as Dental, Vision, Hearing and Prescriptions Deductibles, coinsurance, copayments, and supplies Note: Expenses incurred solely for cosmetic reasons such as liposuction, hair transplants, and face lifts are not covered. Proprietary & Confidential September 2014) 7
Top 5 HRA Questions 1.What is an eligible expense? 2.How do I file a claim? 3.How do I update my information? 4.How do I sign up for auto-reimbursement and/or direct deposit? 5.What is my available balance, including why does my RHCA balance show less than what is in my account? Proprietary & Confidential September 2014 8
HRA and RHCA Prescription Drugs/OTCs RHCA HRA Rx Yes Yes* OTC meds Yes with doctor s prescription Yes*, with doctor s prescription OTC supplies Yes Yes * Proprietary & Confidential September 2014 9
Your Spending Account- Log on Log on to the Your Benefits Resources Website at http://resources.hewitt.com/fca with your user name and password or call 1-888-409-3300 Proprietary & Confidential September 2014 10
Your Spending Account Home Page Proprietary & Confidential September 2014 11
YSA HRA/RHCA Tab The RHCA will show zero since we do not store balances on this plan All balances are held with Merrill Lynch Proprietary & Confidential September 2014 12
How to Submit a Claim Proprietary & Confidential September 2014 13
Online Claim Submission- secure and fast! Always submit a claim form with proper documentation Most secure and fastest method of of claims submission Sign on to YSA via Your Benefits Resource (YBR) Click on the HRA/RHCA tab Click on Create HRA/RHCA Claim from drop-down menu OR Click the Blue button on the right side of the page Select Upload method to send your documentation Complete the online information Enter Expenses Upload copies of your receipts or proof of expense (keep the originals) Note: Upload does not have to be printed and signed Proprietary & Confidential September 2014 14
Fax or mail- other options to submit To avoid a delay or denial, a claim form must be submitted with proper documentation Claim forms are available online or by calling YSA. To submit online: Sign on to YSA via YBR Click on the HRA/RHCA tab Click on Create HRA/RHCA Claim from drop-down menu OR Click the Blue Button on the right side of the page Select Fax or Mail method to send your documentation in order to: Create a cover sheet on this site Print and sign the cover sheet Send signed cover sheet and documents to YSA via: - Fax - 1-888-211-9900 or 1-847-554-1409 (outside US) - Mail - P.O. Box 785040, Orlando, FL 32878-5040 Proprietary & Confidential September 2014 15
Submitting a claim For the fastest claim processing, upload your documents online! Select the plan you want the funds to come from Proprietary & Confidential September 2014 16
Top 5 Claim Mistakes 1. Missing Claim supporting documentation- 2. Claim not processed/ received- Do not use generic claim form- use Barcoded specific form- call service center or download from YSA website 3. Claim submitted outside of coverage period or after funds exhausted Example: sufficient funds not transferred into proper account at Merrill Lynch for RHCA claims or claims submitted for the prior year when all balances from prior years are already exhausted 4. Documentation missing patient name, date, amount, or description 5. Claim form not signed or dated 6. Ineligible expense Proprietary & Confidential September 2014 17
Invalid vs. Valid Receipts
Direct Deposit Note: Updating your HRA/RHCA Direct Deposit information on the YSA site is independent of your pension payment arrangements
Contact Us
Secure Messaging Mailbox
Mobile Phone Text Message Alerts HRA Only Manage Text Messages Mobile Number Choose Text Messages Note: Standard text message charges may apply.
RHCA Funds RHCA Funds housed at Merrill Lynch (ML) YSA requests RHCA funds from ML to cover claim payments Be sure there are sufficient funds in your Institutional Money Market Fund to pay the claim. If there is not enough money in the Institutional Money Market Fund, the needed amount will be pulled from all of your mutual fund holdings on a prorated basis from Merrill Lynch. To choose specific mutual funds to be used for claims, you may liquidate those funds and move them to the Institutional Money Market Fund (must be done at the same time as when you submit the claim.) If you see a claim denial notice due to not enough funds available, it may be that the funds are not in the Institutional Money Market Fund. Contact ML to move sufficient monies into the IMMF. Note: This could take several days to process.
YSA HRA/RHCA Tab The RHCA will always show zero since we do not store balances on this plan All balances are held with Merrill Lynch Proprietary & Confidential September 2014 24
RHCA at Merrill Lynch Institutional Money Market II Fund
RHCA at Merrill Lynch Merrill Lynch website Benefits OnLine www.benefits.ml.com Phone call Merrill Lynch, Participant Service Center (800) 483-7283 (SAVE) Proprietary & Confidential September 2014 26
Go Paperless! Proprietary & Confidential September 2014 27
Benefit Express Benefit Center & YSA Always a Resource Log on to the Your Benefits Resources Website at http://resources.hewitt.com/fca with your user name and password or call 1-888-409-3300 Benefit Center representatives are available from 8 a.m. to 4 p.m., Eastern Time, Monday through Friday to assist you o HRA Funding Questions o Updates to your personal contact information (phone numbers, home and/or personal email addresses) o Beneficiary information updates (including RHCA) Proprietary & Confidential September 2014 28
Benefit Express Benefit Center & YSA Always a Resource (Con t) When you call 1-888-409-3300 and hear the option for Your Spending Account, you can select to be transferred to YSA o YSA representatives are available from 8 a.m. to 8 p.m., Eastern Time, Monday through Friday When you call 1-888-409-3300, and hear the Option for Enroll with Aon Retiree Health Exchange, you can select to be transferred to Aon Retiree Health Exchange o Aon Retiree Health Exchange representatives are available from 8 a.m. to 8 p.m., Eastern Time, Monday through Friday Proprietary & Confidential September 2014 29
Questions