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2003-11-12 CC Packet
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2003-11-12 CC Packet
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<br />"'''''-'~__'Q.. ...-1__...;>_.., ........ .._ '.._.. -U_,.' .......".c. ...-..._1O..4___.._...._.~... ..' <br />, <br /> <br />.~~. ...... -. ....-..--.,. -".,~"'~......................_.~......__.,.,-' ...................,...~ ..'.t...l.:.:.~..."'..~t-..._..,...._._.~.:.:...,~...;,'.-o......~.,.~:.:..~~....:...-_. -. ~ -~~ .......~,. ~'_~~ <br /> <br />~ <br /> <br />IMPORTANT NEWS fROM ACClAIM BENEFITS <br /> <br />TIns update from Acclaini Benefits includes news and information pertaining to ~e a~on of your F1e~ble <br />Spending Account (FSA) Plan. If you have questions regarding the following articles, or if you wowd like additional <br />information, please contact your Acclaim Benefits Account Coordinator. <br /> <br />In this issue: <br /> <br />:> Reimbursement of Over-The-Counter ])rugs. <br />:> Acclaim. Benefits Administrative Changes <br />:> Open Enrollment AssiStance <br /> <br />r <br /> <br />Reimbursement of <br />Over-The-Counter Drugs <br /> <br />Revenue Ruling 2003-102, issued S~tember 3, <br />2003, allows for the reimbursement of over-the- <br />counter drugs through FSA plans. The cost of over- <br />the-counter drugs may "be reimbursed under the <br />plan if the purchase is for the diagnpsis, treatment <br />or prevention of disease, or for trea.fment of <br />sickness or injury, regardless of whether the <br />purc~e is deducf:1ble for federal income tax <br />purposes. <br /> <br />request reimbursement of over-the-counter drugs <br />purchased on or after January 1,2004. Enclosed is <br />a communication piece that you may use to <br />communicate this change' to your employees. <br /> <br />In order for an over-the-counter expense to be <br />reimbursable, your FSA plan document must <br />provide for its reimbursement If Acclaim Benefits <br />drafted your plan document, your plan document <br />must be revised. Enclosed is a draft Board <br />Resolution with the necessary language required to <br />amend your plan to provide for the reimbursement <br />of over-the-counter drugs. Please have the <br />appropriate representative sign the Board . <br />Resolution and return it to Acclaim Benefits by <br />November 1,2003. A Summary Material <br />Modification (SMM) will be forwarded upon <br />receipt of the Board Resolution. . <br /> <br />If a party other than Acclaim Benefits drafted your <br />plan document, please review the document to <br />ensure that it provides for the reimbursement of <br />over-the-counter drugs. If your plan document <br />must be revised, please send a copy of the amended <br />document to your Acclaim 'Benefits Account <br />Coordinator. <br /> <br />Administrative Changes <br /> <br />New Reimbursement Minimum <br />In anticipation of receiving reimbursement requests for <br />over-the-counter drugs that are of a smaller dollar amount;- <br />Accla.i:Di BenefitS is implementing a reimbursement . <br />minimum of$10.00 beginning January 1, 2004. Acclaim <br />Benefits will continue to process all reimbursement requests <br />received; however; reimbursement will not be paid until the <br />participant has submitted eligtble expenses that are equal to <br />or exceed $10.00. If your company currently has a <br />reimbursement minimum in place in excess of $10.00, your <br />reimbursement minimum will remain as it is. <br /> <br />, . <br />Faster Claim Turn-Around-Time <br />Acclaim Benefits has historically communicated that <br />Reimbursement Claim Forms received via fax by 3:00 p.m. <br />central time would be entered and reViewed .on the same <br />day the form was received. Additionally, it was <br />communicated that Reimbursement Claim Forms received <br />via mail would be ent~d and reviewed within three (3) <br />bUsiness days. <br /> <br />For .ease in administering your plan, we are <br />requesting that this amendment be effective <br />January 1,2004. By signing the Board Resolution <br />and the SMM, your participants will be able to <br /> <br />With the implementation of optical character recognition <br />(OCR), Acclaim Benefits no longer differentiates between <br />faxed and mailed claims. As a result, Acclaim Benefits will <br />implement a 24-hour tum-around-time for the entry and <br />review of all Reimbursement Claim Forms beginning' <br />November 1, 2003. TheSe lIcimini~tra.tive changes will be <br />communicated to participants via the Acclaim Benefits Web <br />site as well as via their Remaining Balance Letter, which <br />will be produced and dis1nbuted in early October. <br /> <br />Flexible Spending Account Department It P.O. Box 47338 .. Minneapolis, MN 55447 . www.acc1aimbenefits.com . fax 763-278-4004 <br />
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