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Today is Monday, July 18, 2005
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Your employer will establish a Medical Flexible Spending Account on your behalf.  The amount that you elect to contribute for the plan year will be available immediately in your account, but your election will be divided out and deducted, pre-tax, from each paycheck throughout the entire plan year.  As you incur eligible expenses you will submit a claim to draw funds from your account.  Paying for benefits on a pre-tax basis means your taxable income is lower and, consequently, your taxes are lower. 
Medical Flex Account
Plan Description


Your employer will establish a Dependent Care FSA on your behalf.  The amount that you elect to contribute will be pro-rated and deducted from each paycheck for the upcoming plan year.  These deductions will appear as a credit to your Dependent Care FSA.  As you incur eligible expenses you will submit a claim to your employer to draw funds from your account.  Paying for dependent care on a pre-tax basis means your taxable income is lower and, consequently, your taxes are lower. 
Dependent Care Account
Plan Description


An HRA is an account funded by your company to help you pay for deductible expenses not covered by insurance for yourself, your spouse and dependent family members.   The money in your HRA is not considered taxable income on your W2 and is not funded by you in any way; it is simply money set aside for you, by your employer, to offset the cost of deductible expenses.
HRA
Plan Description


Participating in the Transportation Reimbursement Account allows you to pay for certain Transportation expenses on a pre-tax basis, instead of after-tax.  To do this, your elected contributions are deducted from your gross income for each payroll period and a “benefit account” is established for you by your company to pay these expenses with this money.  There are two types of transportation accounts: Qualified Parking and Transit Passes.
Mass Transit
Plan Description


Participating in the Transportation Reimbursement Account allows you to pay for certain Transportation expenses on a pre-tax basis, instead of after-tax.  To do this, your elected contributions are deducted from your gross income for each payroll period and a “benefit account” is established for you by your company to pay these expenses with this money.  There are two types of transportation accounts: Qualified Parking and Transit Passes.
Parking
Plan Description
Are you ready to enroll?
Enrolling in a Pre-Tax Benefit plan allows you to save Federal, State, Social Security and medicare taxes on dollars you put into the plan. You could save approximately 30% on every plan dollar you spend, depending on your tax bracket.
Review your available plans to find out how to best use these programs. To learn more about the benefits offered, click on the appropriate Plan Description link below.


Your employer will establish an HSA on your behalf.  The amount that you elect to contribute for the plan year will be available immediately in your account, but your election will be divided out and deducted, pre-tax, from each paycheck throughout the entire plan year.  As you incur eligible expenses you will submit a claim to draw funds from your account.  Paying for benefits on a pre-tax basis means your taxable income is lower and, consequently, your taxes are lower. 
HSA
Plan Description
Questions? Contact Participant Services at (701) 451-3399, toll free (866) 451-3399  or comments@discoverybenefits.com.
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