Flexible Spending Accounts (FSA)
Brown & Brown and Hawaii Teammates
Brown & Brown provides you with the opportunity to pay for unreimbursed medical, dental, vision, and dependent care expenses on a pre-tax basis. Administrative services and claim reimbursements for FSA and Dependent Care FSA (DCFSA) are provided by HealthEquity (formerly through UnitedHealthcare).
- A NEW HealthEquity healthcare card will be mailed to your home address to arrive before January 1, 2021 and can be used to pay for eligible healthcare expenses only.
- The HealthEquity Healthcare card cannot be used for eligible dependent care expenses. Expenses for DCFSA reimbursement can be submitted through the member portal on the HealthEquity website, completion of a DCFSA reimbursement form or through the HealthEquity mobile app. Recurring DCFSA claims can be scheduled for the duration of the plan year. Reimbursements will be made through direct deposit to an account specified by you.
- The Flex Plan Year is January through December. Eligible expenses must be incurred by December 31st to be qualified for reimbursement in the current plan The Healthcare FSA does include a carryover provision and the DCFSA includes a 2.5 month grace period. Eligible expenses incurred during the Flex Plan Year must be submitted by the following March 31st. It is important to choose your annual amount(s) carefully to avoid any unused funds at the close of the Plan Year.
- Healthcare FSA can be reimbursed up to the total amount you have elected to deposit for the year. If termination of the Healthcare FSA occurs prior to the end of the plan year, you are only eligible for reimbursement of expenses which were incurred while you are a participant in the Plan unless (if applicable) COBRA continuation is elected.
- Dependent Care can be reimbursed up to the total amount you have deposited. If termination of the DCFSA occurs prior to the end of the Plan Year, you can continue to request eligible reimbursements until the earlier of the date your balance is exhausted or the end of the Plan
1Current plan participants with funds remaining in your FSA as of 12/31/20 will have up to $550 of those unused funds carry over and can be used for eligible expenses incurred in 2021. Any unused funds over and above $550 will be forfeited. For example, if you contributed $2,750 to the FSA in 2020 and only incurred eligible expenses totaling $2,000, $550 would carry over into 2021 but the remaining $200 of unused funds would be forfeited.
2Current plan participants with funds remaining in your dependent care account as of 12/31/20, a 2.5 month grace period, January 1 – March 15, will allow for additional time to spend those dollars. You will have until March 15, 2021 to incur eligible dependent care expenses and use money left over from 2020 to pay them. The last day to submit claims is March 31, 2021. Any unused funds would be forfeited after the grace period ends.
Note: Employees are required to follow all tax laws and are encouraged to consult with your tax professional with questions or need assistance with your FSA enrollment.
IMPORTANT DOCUMENTS:
Proctor Teammates
Brown & Brown provides you with the opportunity to pay for unreimbursed medical, dental, vision, and dependent care expenses on a pre-tax basis. Administrative services and claim reimbursements for Healthcare FSA, Limited Purpose FSA and Dependent Care FSA (DCFSA) are provided by HealthEquity (formerly through UnitedHealthcare).
- A NEW HealthEquity healthcare card will be mailed to your home address to arrive before January 1, 2021 and can be used to pay for eligible healthcare expenses only.
- The HealthEquity Healthcare card cannot be used for eligible dependent care expenses. Expenses for DCFSA reimbursement can be submitted through the member portal on the HealthEquity website, completion of a DCFSA reimbursement form or through the HealthEquity mobile app. Recurring DCFSA claims can be scheduled for the duration of the plan year. Reimbursements will be made through direct deposit to an account specified by you.
- The Flex Plan Year is January through December. Eligible expenses must be incurred by December 31st to be qualified for reimbursement in the current plan The Healthcare FSA does include a carryover provision and the DCFSA includes a 2.5 month grace period. Eligible expenses incurred during the Flex Plan Year must be submitted by the following March 31st. It is important to choose your annual amount(s) carefully to avoid any unused funds at the close of the Plan Year.
- Healthcare and Limited Purpose FSA can be reimbursed up to the total amount you have elected to deposit for the year. If termination of the Healthcare FSA occurs prior to the end of the plan year, you are only eligible for reimbursement of expenses which were incurred while you are a participant in the Plan unless (if applicable) COBRA continuation is elected.
- Dependent Care can be reimbursed up to the total amount you have deposited. If termination of the DCFSA occurs prior to the end of the Plan Year, you can continue to request eligible reimbursements until the earlier of the date your balance is exhausted or the end of the Plan
1Current plan participants with funds remaining in your FSA as of 12/31/20 will have up to $550 of those unused funds carry over and can be used for eligible expenses incurred in 2021. Any unused funds over and above $550 will be forfeited. For example, if you contributed $2,750 to the FSA in 2020 and only incurred eligible expenses totaling $2,000, $550 would carry over into 2021 but the remaining $200 of unused funds would be forfeited.
2Current plan participants with funds remaining in your dependent care account as of 12/31/20, a 2.5 month grace period, January 1 – March 15, will allow for additional time to spend those dollars. You will have until March 15, 2021 to incur eligible dependent care expenses and use money left over from 2020 to pay them. The last day to submit claims is March 31, 2021. Any unused funds would be forfeited after the grace period ends.
Note: Employees are required to follow all tax laws and are encouraged to consult with your tax professional with questions or need assistance with your FSA enrollment.
IMPORTANT DOCUMENTS:
Health Savings Accounts (H.S.A.)
Brown & Brown Teammates
What is happening to my Health Savings Account? How is this impacted by our new universal plan offering for 2021?
- Your Health Savings Account (H.S.A.) is yours to keep! There are no expiration dates on how you use your funds for future qualified medical/dental/vision expenses; however, all funds must be used in accordance with IRS regulations to avoid tax penalties.
- Brown & Brown will be sponsoring teammates’ H.S.A. administration fees for the 2021 calendar year for anyone with a remaining balance.
- In order to be eligible to add funds into an H.S.A. you must be covered by a qualified High Deductible Health Plan (HDHP). As Brown & Brown’s 2021 health plan extends new first dollar coverage for non-preventative services and access to low cost care at industry leading copay limits, teammates enrolled in the Brown & Brown health plan in 2021 are no longer eligible to defer NEW funds into an H.S.A. savings vehicle. Teammates, however, can consider flexible spending account deferrals as an alternative.
- Teammates do have the option to withdraw funds out of an H.S.A. at any time for non-qualified expenses, however, you would need to claim that money as taxable income subject to excise tax penalties.
- If you have questions related to the tax implications of withdrawing H.S.A. funds or wish to explore personalized investment options, we recommend you consult with a tax and investment advisor.
Optum HSA Customer Service
Phone: Our customer support center is available for assistance from 7 a.m. to 7 p.m. (Central Time), Monday through Friday at (800) 791-9361.
Email: [email protected]
Download the Optum Bank mobile app to view your account info
Proctor Teammates
- Available when enrolled in the HAP PPO High Deductible Health Plan (QHDHP).
- HSA 2021 contribution limits: Individual=$3,600; Family=$7,200; $1,000 catch-up contribution for age 55 or older participants.
IMPORTANT DOCUMENTS:
NOTE: You may be disqualified from any tax advantages of a contribution to a Health Savings Account (HSA) if you (or any of your covered eligible dependents) are enrolled in another health benefit plan while covered by a qualified HDHP with a HSA. Your participation in a Healthcare FSA (either through Brown & Brown or through your eligible dependent) is considered as another plan. This notice is not meant to be considered legal or tax advice. Employees are required to follow all tax laws and are encouraged to consult with your tax professional with questions or need assistance with your FSA and/or HSA enrollment.