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How does the dependent care FSA work?
You select the amount that you would like to put into your dependent care FSA account based on your needs for the coming plan year. Chard Snyder and your employer will let you know the maximum amount allowed.
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Why do I need to save all of my itemized receipts?
Participants and their other eligible users should always save itemized receipts for HSA, FSA and HRA-eligible purchases made with the benefits card.
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What are some reasons that the benefits card might not work at the point of sale?
The most common reasons why a benefits card may be declined at the point of sale are:
The benefits card has not been activated.
The benefits card has been used before the 24-hour waiting period after activation is over. -
Where can I use my benefits card?
Participants may use the benefits card to pay a hospital, doctor, dentist, or vision provider that accepts benefits cards. Auto-substantiation technology electronically verifies the transaction’s eligibility according to IRS rules. If the transaction cannot be auto substantiated, paper follow-up will be required.
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What’s the difference between an HSA vs. FSA?
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Is an FMLA "serious health condition" the same as an ADA "disability"?
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What is a "serious health condition" under the FMLA?
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What happens to my HSA upon my death?
The treatment of your Chard Snyder HSA Advantage™ account depends on who is the designated beneficiary.
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How do I add a beneficiary to my HSA?
To add or update a beneficiary on your HSA Advantage™ account, visit the Profile tab when you log in to your account or contact us to request a Beneficiary Designation Form.
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What happens if I do not have a beneficiary on my HSA Advantage™ account?
If you do not designate a beneficiary for the account, the money will be included in your estate and the value will be taxable on your final income tax return.
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How does the health FSA work?
You select the amount that you would like to put into your healthcare account based on your needs for the coming plan year. Chard Snyder and your employer will let you know the maximum allowed amount.
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How do I enroll in a flexible spending account (FSA)?
Eligible employees will enroll online or complete and turn in an enrollment form during the open enrollment period prior to the beginning of each plan year.
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Can I change the amount I am contributing to my flexible spending account (FSA) during the plan year?
Generally, you cannot change the elections you have made after the beginning of the plan year. However, there are certain situations where you can change your elections.
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How do I receive reimbursements from my flexible spending account (FSA)?
Submit a claim online by logging into your account on the participant portal or on the Chard Snyder mobile app for quickest processing and reimbursement.
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What is an eligible flexible spending account (FSA) expense?
An eligible expense is any healthcare or dependent care expense approved by the IRS for reimbursement through the plan.
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What happens to funds at the end of the flexible spending account (FSA) plan year?
Most plans allow you to continue to submit claims for purchases and services that you have already incurred.
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Do I enroll in the flexible spending account (FSA) each plan year?
Yes. The amounts that you have elected to contribute are for the duration of the plan year in which they are made.
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What happens if I become ineligible for the flexible spending account (FSA) plan?
Before the end of your plan year you should use up the money that was in your account at the time of the change.
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What happens to my flexible spending account (FSA) if I quit or lose my job?
Contact us to find out the requirements of your plan. You may submit claims for expenses from before the date you quit or lost your job.
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If I forget to submit a claim what happens?
You have to submit your claims within the time allowed by the plan.
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What does Chard Snyder do with unused funds in my flexible spending account?
Any unused funds remain with your employer per IRS guidelines.
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Who can I use a dependent care FSA account for?
Your natural, adopted and foster children who have not reached their thirteenth birthday and family members who cannot care for themselves are eligible.
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When parents are divorced, who may use a dependent care FSA account?
The parent the child lives with most of the time may use the dependent care FSA account even if the other parent claims the child as a tax dependent.
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How much may I put in the dependent care FSA account?
The most a household can set aside is $5,000 a calendar year.
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Am I allowed to change the amount I am contributing to my dependent care FSA account?
The IRS has identified several instances when you can change the amount you can put into the dependent care FSA account.
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May I pay my teenager or spouse to watch my younger child?
Under the dependent care FSA, your babysitter may not be your tax dependent under the age of 19 or your spouse.
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How will my dependent care FSA expenses be reimbursed?
You can submit a claim form and receive a check or direct deposit payment.
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When should I submit my claim for dependent care FSA expenses?
You may submit your claim at any time during your plan year.
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Do I have to use the Chard Snyder Benefits Card or can I submit claims and be reimbursed?
The card is a convenience but you are not required to use it.
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If I make a purchase without my benefits card, how do I submit a claim for reimbursement?
Submit a claim online by logging into your account on the participant portal or on the Chard Snyder mobile app for quickest processing and reimbursement.
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Why did I receive a letter asking for information about my benefits card transaction?
If the Chard Snyder Benefits Card cannot verify that the expense meets IRS guidelines, Chard Snyder will ask you to submit copies of your itemized receipts.
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Why was my transaction selected for verification?
When you use your benefit card to pay for services from a medical provider such as a hospital, clinic, doctor or dentist, you may receive a letter from Chard Snyder asking you to provide paperwork to verify that your claim was for an eligible expense.
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May I have my provider send you the information you are requesting?
Yes, and be sure to have the provider include the employee’s name and their employer so that we can match the information to your flexible spending account (FSA).
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Can Chard Snyder call the provider and ask for the information that is needed?
We cannot contact the provider on your behalf due to HIPAA regulations.
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What if I fail to submit receipts to verify a charge?
If your claim needs to be verified, you will receive an email or letter from Chard Snyder requesting an itemized receipt, insurance explanation of benefits (EOB) or an itemized statement from your doctor or provider.
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What if I lose my receipt?
Usually the service provider can provide an account history or replacement receipt.
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Why did I receive a Request for More Information letter?
A “Request for More Information” is sent when the information provided is not sufficient to allow us to approve the transaction.
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Why did I receive an Ineligible Expense Request letter?
An “Ineligible Expense Request” is sent when it has been determined that the transaction in question included an ineligible expense.
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How does my HRA work?
Your HRA is designed by your employer to reimburse you for certain eligible healthcare expenses.
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Do employees need to enroll in the HRA each plan period?
Yes. All eligible employees must enroll each year during the open enrollment period.
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Can I contribute to the HRA plan?
Per IRS regulations, employees are not permitted to contribute to an HRA plan.
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What is an eligible HRA expense?
An eligible HRA expense is any healthcare expense incurred by an employee, their spouse, or dependent, that is approved by the IRS and eligible for reimbursement under your specific company plan.
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How do I receive HRA reimbursements?
Submit a claim online by logging into your account on the participant portal or on the Chard Snyder mobile app for quickest processing and reimbursement.
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How do I find my balance or view the status of my claims?
You may find your balance by logging in to your participant portal account from chard-snyder.com.
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Do funds carryover at the end of the HRA plan period?
It depends on your HRA plan. Your specific plan rules can be found in the participant portal, or Chard Snyder or your human resources office is available to assist you.
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What happens to my HRA when I leave my employer?
If you leave your current place of employment or become ineligible for the HRA you will not be able to take your HRA funds with you.
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What is an HSA?
An HSA is a personal bank account created exclusively for individuals to pay for eligible healthcare expenses and save for future healthcare expenses tax-free.
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Am I eligible to contribute to an HSA?
You are eligible as long as you meet the following criteria listed below:
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Can I have an FSA and HSA?
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Can I use the money in my HSA to pay for medical care for a family member?
Yes. You may withdraw funds to pay for the qualified medical expenses of yourself, your spouse, or a dependent without tax penalty.
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How much may I contribute to my HSA?
Maximum annual contributions to your HSA are determined by the IRS each year.
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What is an HSA eligible expense?
The overall guiding rule for medical expenses is that the expense has to be for medically necessary purposes only.
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Who decides if my expenses are qualified medical expenses?
You are responsible for that decision, and therefore should familiarize yourself with what types of medical expenses are considered to be qualified (as partially defined in IRS Publication 502).
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Can I pay my health insurance premiums with an HSA?
You can only use your HSA to pay health insurance premiums if you are collecting federal or state unemployment benefits, or you have COBRA coverage through a former employer.
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Do I have to pay taxes on my withdrawn HSA amounts?
No. As long as you use your HSA only for eligible medical expenses, you will never have to pay taxes on the money.
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Who is responsible for ensuring that I am only using my HSA for eligible medical expenses?
How you use your HSA is solely between you and the IRS.
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I have an HSA but no longer have HDHP coverage. Can I still use the money that is in the HSA?
Once funds are deposited into the HSA, the account can be used to pay for qualified medical expenses tax-free, even if you no longer have HDHP coverage.
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What if I do use my HSA for purchases that are not eligible medical expenses?
If you use your HSA for an expense other than eligible medical expenses you can subject yourself to significant IRS penalties. Inappropriate use of your HSA funds may also leave you without money to pay for your eligible medical expenses in the future.
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What happens when my employment is terminated or I resign?
The HSA is yours and will stay with you even after you have left your current employer.
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What happens to the money in my HSA after I turn age 65?
You can continue to use your account tax-free for out-of-pocket health expenses.
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Can I use my HSA to pay for medical expenses incurred before I set up my account?
No. You cannot reimburse qualified medical expenses incurred before your account was established.
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Can couples establish a joint HSA and both make contributions to the HSA?
Joint HSAs are not permitted.
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Can couples open separate HSAs?
If both husband and wife are eligible to contribute to an HSA, they are both eligible to establish separate HSAs.
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If my spouse and I are either 55 or older, can we both make “catch-up” contributions?
Yes, if you are both eligible individuals and both have established HSAs in your own names.
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When will I receive my new Chard Snyder Benefits Card?
Your Chard Snyder Benefits Card will be mailed to the address you provided on your application within 7-14 business days after your account has been set up.
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Do I receive a monthly HSA statement?
Log in to your account on the participant portal or on the Chard Snyder mobile app to indicate your preferences regarding how you’d like to receive regular HSA statements (via email or paper copy).
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How can I check my HSA balance or get other questions answered?
You can check your account balance on your monthly statement by going to your online account, calling Chard Snyder or your bank.
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What is the best way to pay for prescriptions and medical visits with our HSA?
The discounted rate for prescriptions is provided at the cash register, so use your benefit card for maximum convenience.
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Does my HSA have to have money in it before I use it to pay a provider?
Yes, this is a personal bank account in your name.
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What if funds are not available in my HSA when I incur an eligible medical expense?
If you do not have enough money in your HSA to pay for an eligible medical expense you will need to pay for the expense by some other means.
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What happens to the balance in my HSA at the end of the year?
Any unused contributions in your HSA will accumulate year after year tax-free until you need them.
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Do I need to re-enroll in the HSA each year?
Yes. Your company will advise you when you need to do this and provide you with the necessary forms.
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How do I make deposits to my HSA?
If you are in an employer-sponsored plan you will normally make deposits through payroll deductions coordinated by your HR office.
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What tax forms will I receive with my HSA?
You will receive two tax forms on an annual basis, the 1099-SA and 5498-HS.
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Do I have investment options available to me on my HSA balances?
Yes. You may check with Chard Snyder or see the investment options in the participant portal.
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How do Commuter Benefits work?
The employer identifies who is eligible to participate (within IRS discrimination requirements), what the maximum monthly contributions are for the plan and the duration of each plan period (typically month to month).
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How do employees participate in Commuter Benefits?
Employees enroll in the plan through their employer before the beginning of the plan period.
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Can employees participating in Commuter Benefits change elections during the plan period?
Employees are permitted to make election changes throughout the plan period.
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How do employees receive Commuter Benefits reimbursements?
When parking expenses cannot be paid for with the Chard Snyder Benefit Card, Commuter Benefits parking plan participants can submit claims online through the participant portal or the Chard Snyder mobile app.
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What is an eligible Commuter Benefits expense?
Eligible expenses are parking, mass transit and/or vanpooling expenses incurred by an employee for the purpose of commuting to and from a place of work.
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Do Commuter Benefits carry over at the end of the plan period?
Any unused amounts left in the accounts at the end of the plan period are carried over into the next plan period.
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What happens if an employee terminates employment?
If an employee terminates employment, participation in the plan will also terminate.
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Do employees need to enroll each Commuter Benefit period?
Employees' elections carry over from plan period to plan period.
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May I use my benefits card if I receive a statement due for a medical service?
As long as the date of service is within the plan year and the provider accepts MasterCard, you can simply write the card number on the statement and send it back to the provider or call the provider and give them the card number and expiration date (MM/YY) over the phone.
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Can I use the benefits card to access last year’s money left in my FSA and/or HRA this year?
This depends on your specific program.
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If asked, should I select “debit” or “credit”?
You may choose to use your benefits card by swiping it and providing a signature or through the use of a four-digit Personal Identification Number (PIN) at the point of sale.
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What happens to my benefits card when my employment is terminated or I resign?
Card privileges are closed when we receive notification of a termination or resignation.
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Are employers required to have plan documents?
Benefits that are subject to ERISA are required to establish and maintain a written document to set forth the plan's terms and conditions.
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What are Chard Snyder document only services?
Chard Snyder Plan Document Services gives you the comfort of knowing your plan documents are revised and maintained to make certain you are in compliance at all times.
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What is a plan document?
A Plan Document is a written document that sets forth a plan's terms and conditions.
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What is a SPD?
A Summary Plan Description (SPD), is a summary of an Employee Benefit Plan's terms that must be furnished to covered employees and other individuals.
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What is a Premium Only Plan?
A premium only plan (POP) is an IRS regulated, employer-sponsored benefits plan that allows employees to voluntarily redirect a portion of their compensation towards tax-free benefits.
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How does a POP work?
Premium Only Plans are self-administered by the employer. The employer adds a section 125 premium only deduction code to their list of payroll deduction codes. The employer keeps good records of employees that are participating in the plan, and keeps a set of plan documents.
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What is a Wrap Plan?
A wrap plan is a document that bundles an employer's health and welfare plans into a single plan, while incorporating and supplementing insurance contracts, booklets and certificates and providing necessary ERISA information.
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What is a qualifying COBRA event?
Death of employee, termination, legal separation, Medicare qualification, or loss of dependent are all qualifying events.
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Who is a qualified beneficiary?
A qualified beneficiary is someone who is covered under the plan immediately prior to the qualifying event.
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How do I elect COBRA?
You will need to complete the form on page 7 of the election form in its entirety. Sign and date the form and return it to Chard Snyder for processing.
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When are my COBRA premiums due?
All premiums are due on the first of each month.
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Do I have to pay for the months for which I did not need coverage after my termination?
Yes, COBRA begins on the last day you had coverage before terminating employment.
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How do I make my payments for COBRA and to whom?
There are a few methods of payment for COBRA: You may pay by check, bill pay, or online payments using checking/savings account (ACH) on our website.
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Will I be billed for my premium(s) each month?
Once you elect COBRA, you will receive coupons that can be used through the end of your plan year to remit payments.
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What happens if my COBRA premium is late?
COBRA allows a 30-day grace period. If your premium payment is not received within the 30-day grace period, your coverage will automatically be terminated without advance warning.
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Can I pay just part of the month if I do not need the full month of coverage?
No, premiums cannot be prorated for a shorter period. You must pay the full premium amount for each month. Partial payments will be accepted, but cannot be reported to the carrier until the full amount has been paid. You will not have coverage until all premiums have been paid in full.
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How is this insurance different from what I had?
There is no difference in the insurance plan that you now have under COBRA. All plan rules and coverages are exactly the same as you had before you terminated employment. The only difference is that you are now paying the actual full cost of the premium instead of just the employee contribution amount.
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Who do I call when I have a problem with a claim or want to know more about my insurance plan?
Send all inquiries regarding coverage or claims activity directly to the carrier, just as you did before you elected COBRA.
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How do I avoid interruption in my coverage?
Make your COBRA election as soon as you receive your Election Form and return it to us with the appropriate amount due immediately.
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What happens when my COBRA period has expired?
When your COBRA period has ended, it will be your responsibility to find other insurance coverage.
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What paperwork should I keep?
Please read the election form you received in its entirety. When you return your signed election form, make a copy before sending it to Chard Snyder and keep it for your records.
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Why should my company outsource FMLA leave administration?
Does your company struggle with the complexities, time and resources to manage FMLA leaves?
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What types of businesses should use Chard Snyder’s FMLA Leave Administration?
Employers with 50 or more employees within a 75 mile radius of base location are required to offer FMLA to employees.
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Why use Chard Snyder’s FMLA Leave Administration services instead of using Microsoft Excel?
There are 2 key reasons to use Chard Snyder.
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How do employees start the process of requesting an FMLA leave?
Employees work with their HR contact to complete an FMLA Request Form, which gathers all necessary information to begin the process.
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Are our employee’s personal and business information disclosed?
No, we are committed to protecting all your Personally Identifiable Information (PII) in compliance with HIPAA and Privacy Act standards.
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Does Chard Snyder handle regulations for both state and federal FMLA?
Yes, we utilize technology, which has real time updates built in to ensure compliance and consistency.
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Do you offer guidance in FMLA policy?
Yes, we help guide your employees and HR staff through the maze of FMLA related decisions from initial start of leave through return to work. -
How are individual company policies and decisions which are not mandated by FMLA factored in?
Early in the process we meet with you to understand your company's protocol for how FMLA is measured (i.e. 12 months forward, rolling calendar backward or on a calendar year) and expectations for use of paid leaves.
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How many leaves can Chard Snyder handle?
We can handle all of your FMLA leaves.
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How will I know the status of our employees on family medical leave?
Your case manager gets to know you, your company and your employees on leave.
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Does your FMLA Leave Administration services provide access to real time employee data?
Yes, you will have multiple means to access your employee data in real time.
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Can you manage consecutive and intermittent FMLA?
We can manage all leave requests for FMLA.
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What kind of communication can our employees expect while on FMLA leave?
We provide documented written and verbal communications throughout the process to assist your employees with the key gates and dates.
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How does my LSA work?
Your LSA is designed by your employer to reimburse you for certain eligible healthcare expenses.
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What is an eligible LSA expense?
LSA plans are customized for each employer.
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How do I receive LSA reimbursements?
Submit a claim online by logging into your account on the participant portal or on the Chard Snyder mobile app for quickest processing and reimbursement.
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Do funds carryover at the end of the LSA plan period?
It depends on your LSA plan. Your specific plan rules can be found in the participant portal.