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Contact Information
Provess Flexible Benefits
4050 Katella Avenue, Suite 213
Los Alamitos, CA 90720
Phone: (866) 639-5289
E-Fax: (866) 264-4093
E-mail: admin@provess.com
Palm Springs and Midwest Locations...
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Limited Purpose Health Care Flexible Spending Account (LPFSA)
A Limited Purpose Health Care Flexible Spending Account (LPFSA) is specifically designed to work hand-in-hand with high deductible medical plans, Health Savings Accounts (HSA) or Health Retirement Accounts (HRA). The LPFSA will reimburse out-of-pocket expenses incurred by you or your eligible dependents that are not reimbursable through any other benefit.
Because the LPFSA is a specialized plan, it is not offered by all employers. Check with your benefits services group to determine if your employer offers the LPFSA or if an alternate offering is available to you.
Here is how an LPFSA works. You decide to have an amount of your choice (goal amount) to be deducted incrementally from your paycheck. These contributions to your personal flexible spending account are made before any taxes (payroll or income) are taken from your earnings. You then file claims against your LPFSA for reimbursement of eligible expenses you have incurred. It is the opportunity to pay for eligible expenses with earnings that have not been taxed that provides the great value of an LPFSA. You may be reimbursed for eligible expenses up to the annual goal you have elected to contribute.
The Internal Revenue Service has defined what expenses are eligible for reimbursement and a list of these expenses is available under the Eligible Expenses link in the left menu.
It is worth noting that your entire elected annual contribution goal amount is immediately available upon your enrollment in the Limited Purpose Health Care FSA plan, even before you have made all of your payroll contributions to meet your elected goal amount. You must also remember to use all of your contributions each plan year as no contribution amount may be carried over to subsequent plan years.
You must elect to participate in the LPFSA each year before the plan year begins. New employees may enroll in the LPFSA during their designated benefits election period.
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Flexible Benefits
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January 2010