MMC Benefits Handbook
On May 4, 2020, the US Department of Labor and US Department of the Treasury issued regulations regarding employee benefit plans in response to the COVID-19 National Emergency. The regulations suspend various plan administration deadlines and give employees/participants more time to file claims for benefits (including claims for reimbursement, such as run out period claims, under a Limited Purpose Health Care Flexible Spending Account) or appeal denied claims. If you have questions about how this regulatory guidance impacts your Limited Purpose Health Care Flexible Spending Account reimbursement claims, please contact Trion at +1 866 324 4087, any business day, 8:30 am to 5:30 pm, ET.
In 2021, the Company made a temporary change to the design of the Limited Purpose Health Care Flexible Spending Account as permitted by temporary changes in applicable federal law related to the Covid-19 pandemic. As a result of these changes, the $550 carryover maximum does not apply for carryovers from the 2020 plan year into 2021, or the 2021 plan year into 2022. Nonetheless, you should carefully estimate your expenses before deciding on an amount to contribute. For more information about the special changes to the Limited Purpose Health Care Flexible Spending Account, including examples of rollovers of unused balances as of December 31, 2021, see the Things You Need to Know About the 2021 and 2022 FSAs.
How do I decide how much to contribute?
You select an amount to contribute for the plan year. You can contribute between $120 and $2,750 per plan year.
Since you will forfeit amounts that exceed the $550 carryover maximum that you do not use for expenses incurred by December 31 (see the description of the carryover feature in "How the Plan Works" for more information) and you cannot change the contribution election once you make it (unless you have a qualified family status change), you should carefully estimate your expenses before deciding on an amount to contribute.
You cannot be reimbursed for services that are provided before your coverage begins or after your coverage ends.
You should estimate your contributions carefully. Generally, eligible dental, vision and preventive medical care expenses are reimbursable without regard to whether you have satisfied the deductible applicable to you (that is, the individual or family deductible, depending on your level of coverage) under the Marsh & McLennan Companies $1,500 Deductible Plan or $2,850 Deductible Plan. Other qualified medical expenses (e.g., coinsurance, copayments) are reimbursable only if they are post-deductible qualified medical expenses. See "Examples of Eligible Expenses" and "Examples of Ineligible Expenses" for more information.
Once you make your election for the year, you cannot make any changes, unless you have a qualified family status change and then any changes must be due to, and consistent with, the qualified family status change.
If your projected expenses change during the year, you will not be able to change your contribution election unless you have a qualified family status change. For example, if your health care provider tells you during the year that you are no longer a candidate for the LASIK eye surgery for which you had been contributing to the Limited Purpose Health Care Flexible Spending Account or is postponing a procedure to a subsequent year, you cannot reduce or stop your contributions.
Does the Company contribute to my Limited Purpose Health Care Flexible Spending Account?
No, the Company does not make contributions to your account.
What is the minimum amount I can contribute?
You can contribute a minimum amount of $120 per plan year to the Plan.
What is the maximum amount I can contribute?
You can contribute a maximum amount of $2,750 per plan year to the Plan.
My spouse or domestic partner contributes to his/her employer's limited purpose health care flexible spending account; is there a limit to how much I can contribute to my Limited Purpose Health Care Flexible Spending Account?
You and your spouse or domestic partner are each limited to the maximum contribution allowed by your respective employer. You can submit a claim only once and only to one limited purpose health care flexible spending account. If you and your spouse each contribute to a limited purpose health care flexible spending account, you can only be reimbursed once for any eligible expense.
My spouse or domestic partner and I both work for the Company; how much can we put in the Plan?
You and your spouse or domestic partner can each contribute up to $2,750 per plan year to this plan.
You can submit a claim only once and only to one limited purpose health care flexible spending account. If you and your spouse each contribute to a limited purpose health care flexible spending account, you can only be reimbursed once for any eligible expense.
How are contributions credited to my account?
Your contributions will be deducted on a before-tax basis each pay period and will be credited to your account. The total amount elected for the plan year is available for reimbursement at the start of the year, regardless of your contributions at the time of reimbursement.
When will contributions start to come out of my paycheck?
When you first enroll as a newly eligible employee or as a result of a qualified family status change, your contributions will begin in the next available pay period after your enrollment is processed.
If you enroll during the Annual Enrollment period, your contributions will begin with the first pay period of the new plan year.
Can I transfer contributions between my Dependent Care and Limited Purpose Health Care Flexible Spending Accounts?
No, the IRS requires that this Plan and the Dependent Care Flexible Spending Account remain separate. You cannot transfer money between accounts or use money in one account to pay expenses related to the other account.
What happens to contributions in my Limited Purpose Health Care Flexible Spending Account that I haven't used by the end of the plan year?
The Plan allows up to a maximum of $550 of your Limited Purpose Health Care Flexible Spending Account balance to be carried over into the next plan year. In accordance with IRS rules, you will forfeit any account balance over $550 that is not used to pay eligible expenses incurred between January 1 and December 31 of the plan year if they are not submitted by March 31.
Example: If you have a $600 balance in your Limited Purpose Health Care Flexible Spending Account on December 31, 2022, $550 of the $600 balance will be carried over for you to use in 2023. The remaining $50 of the $600 balance will be forfeited unless you submit by March 31, 2023 claims for eligible expenses incurred in 2022 to use the $50 balance.
If your participation ends during the plan year, you will not be reimbursed for expenses incurred after the date your participation ends (for example, after your employment ends, unless you continue participation through COBRA). You will, however, have until March 31 of the following plan year to submit for reimbursement eligible expenses you incurred during the plan year while you were participating.
If you were participating in the Health FSA solely from the prior plan year's carryover funds, you are not eligible to continue participation through COBRA. You will, however, have until March 31 of the following plan year to submit reimbursement for eligible expenses you incurred during the plan year while you were participating.