2003-11-12 CC Packet - Laserfiche WebLink

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