The 2022 Health FSA limit is $2,850 (up $100 from 2021). As set by the Internal Revenue Code, the Dependent Care FSA limits for 2022 are $5,000 for married filing jointly or single, and $2,500 for married filing separately.
For other 2022 maximums affecting your benefit plans, visit this list of 2022 limits.
Insurance
UPDATE: BCBS Settlement Notice
April 30, 2021: Wespath Benefits and Investments has shared information as an update to the recent notices our Blue Cross Blue Shield health insurance plan participants may have received related to a class action suit against Blue Cross Blue Shield. To read the information from Wespath, visit our Insurance webpage.
For more information and to direct all questions regarding the suit, please visit www.bcbssettlement.com. The NC Conference is not involved in the distribution of materials or information in the matter. We have no recommendation for plan participants as to whether they do or do not respond to the email or any materials they may receive from Blue Cross Blue Shield or any other party involved.
Blue Cross Blue Shield Settlement Notices
We are aware that our Blue Cross Blue Shield health insurance plan participants may have received an email related to a class action suit against Blue Cross Blue Shield. For more information and to direct all questions regarding the suit, please visit www.bcbssettlement.com. The NC Conference is not involved in the distribution of materials or information in the matter. We have no recommendation for plan participants as to whether they do or do not respond to the email or any materials they may receive from Blue Cross Blue Shield or any other party involved.
Notice for FSA Participants
You may have unclaimed balances available in your Flexible Spending Account (FSA). Please read this notice in its entirety. An unclaimed balance may arise from either or both the 2020 and/or 2021 FSA contributions. Typically, FSAs are a use-it-or-lose-it benefit plan, meaning that you lose the money you contributed if you don’t claim it for reimbursement by the end of the traditional grace period. Also typically, you cannot change your election mid-year without also having a qualified change in your status.
However, the recently passed Consolidated Appropriations Act, 2021 (“Act”) provides increased flexibility for Medical and Dependent Care FSAs. Our plan has adopted the outlined changes below under the Act with the ultimate goal of assisting participants who might have otherwise lost their contributions due to the COVID-19 pandemic.
12-Month Extension of Grace Period for Medical and Dependent Care FSAs
The grace period for both our Medical and Dependent Care FSA for the plan years ending in 2020 and 2021 is extended to 12 months after the end of each plan year. You can incur eligible medical expenses and eligible dependent care expenses dated within a 12-month period after the end of the plan year (versus the traditional grace period of 2 1/2 months after the end of the plan year) and claim those expenses for reimbursement from your unused balances. For example, if you have an unused balance from 2020, you can still incur expenses dated through December 31, 2021, and claim them for reimbursement against your 2020 balance. After this period of temporary relief, the plan’s Medical and Dependent Care FSA grace period will return to the 2 1/2 month grace period.
Election Changes Without a Change in Status
For the plan year ending in 2021, you can make prospective election changes (i.e., enroll, discontinue, increase or decrease your contribution amount) to modify your Medical and/or Dependent Care FSA contributions without a change in status. Note, this does not apply to benefits other than Medical and Dependent Care FSAs.
What should you do next?
1. Log into your ProBenefits account to check your balance. You can access your account through the webportal or by downloading their mobile app.
2. Look for any qualified expenses that you have already or will incur between January 1, 2020 and December 31, 2021. Submit a claim to ProBenefits for reimbursement of those expenses. Claims can be submitted faxing/emailing this Claims Form to ProBenefits or by uploading photos of the receipts through the mobile app. Claims for 2020 must be submitted by December 31, 2021. Claims for 2021 must be submitted by December 31, 2022.
3. Consider your current 2021 election and email the Benefits Team if you want to make any prospective changes.
We hope this notice helps you make the most of your FSA benefit. Let us know if you have any questions.
2020 Affordable Care Act Reporting
As in previous years, here are the steps we are taking for Affordable Care Act tax reporting for our conference for 2020:
- The Conference will file 1095-B forms for all of the participants on our health care plan. This means that local churches with less than 50 employees will not need to file any forms.
- The Conference will file 1095-C forms as an applicable large employer for anyone on the annual conference payroll.
- If your church has close to or over 50 employees, please review guidance from Wespath to help determine if you must file as an applicable large employer.
The deadline for filing these forms is March 2nd, so you will receive your copies shortly thereafter.
Important Notice:
You do not have to wait on your 1095-B or C forms to file your tax return for 2020. Here is information from the IRS on this topic. Specifically, see questions #3 and #14.
Amazing Pace 4th Quarter 2020 Rewards
Thank you to everyone who finished strong in 2020–ACH rewards are on the way. Amazing Pace 4th quarter rewards should be in participants’ accounts by Wednesday, February 3rd. Check rewards are also in processing and will begin to be delivered the week of February 8th. Keep walking with us through the first quarter of 2021!