Follow these steps to put the flexible spending accounts to work for you:

• Estimate your expenses.  Each year, you calculate these expenses for the upcoming year: any out-of-pocket medical, dental, vision care, prescription and eligible over-the-counter drug expenses and your dependent care expenses.  You should estimate carefully because you will forfeit any unused funds.  You can use the flexible spending account worksheets to help you plan your contributions.
• Decide on your annual contribution.  You can contribute from $100 to $5,000 before-tax to the health care spending account and from $100 to $5,000 before-tax to the dependent care spending account.  The two accounts are separate, and you may not transfer funds between the two.  Once you begin contributing, you may not change or stop your contributions during the year unless you have a Qualifying Life Event as described in the “About Your Benefits” section.
• File a claim.  When you have eligible expenses, you pay for them as you normally would.  Then you submit a receipt, reimbursement request and any other supporting documentation to the claims administrator.  The address is on the bottom of the form.  Expenses must be incurred in the plan year for which the election was made and while you were an active participant in the plan.

The deadline for filing claims is March 31st following the plan year for which the election was made.

• Receive reimbursement.  Reimbursements from your accounts are made with before-tax dollars.

Should You Participate? Here are some questions you may want to ask yourself before you decide to contribute to a flexible spending account: What do you expect your out-of-pocket health care expenses will be? Start with your deductibles, and then add any medical, dental, vision care prescription or eligible over-the-counter drug expenses that are not covered - like copayments, charges above Reasonable and Customary Charges or charges above plan maximums. What do you expect your dependent care expenses will be? Consider any times of the year when you do not have these child care expenses, such as vacation periods.   Also, if your child will turn 13 during the year, estimate your expenses only for the portion of the year before your child’s 13th birthday. You may also want to use a flexible spending account worksheet to help determine how much you should contribute.

Worksheets and reimbursement forms are available from the Benefit Plans Office, or on your company’s Benefit Forms website.