Q: Where can I get a “Year to Date” report for our Flexible Spending Accounts?
A: View our training video on how to access this report here.
Q: Can an employee and their spouse both enroll in a Medical Reimbursement Account in their respective places of employment?
A: Yes. Each employer determines the medical annual maximum for all their employees. Beginning in 2025, the IRS will limit Medical Reimbursement Accounts to $3,300* per employee.
Q: How do I calculate the new pay period amount after an employee qualifies to make a change due to an eligible status change?
A: Subtract the Participant’s year to date contribution from their new annual election, and then divide by the remaining pay periods in the year. Example: $1200.00 is the new election. The Participant has already contributed $400.00. If you have 4 remaining pay periods, $200.00 would be the new pay period election.
Q: Can an employee transfer money from their Dependent Care account to the Medical Reimbursement account:
A: No, this is not allowed under IRS regulations.
Q: How does a Participant report a lost or stolen Debit Card?
A: The Participant must call our office at 601-982-0331.The current Debit Card will be cancelled, and a replacement card will be issued. Please note that the Participant’s mailing address must be current with Glynn Griffing & Associates prior to having a new card issued.
Q: Can an extra Debit Card be ordered for a Participant’s dependent?
A: Yes. The employee should contact Glynn Griffing & Associates to order an additional card in their dependent’s name.
Q: Why do employees have to furnish documentation on some debit card swipes for medical expenses (Example: doctor’s office, hospital or dentist’s office)? Isn’t it obvious what it was for?
A: Even though the debit card will work in offices that have the proper medical codes, the IRS still wants to know the nature of the expense because cosmetic and elective procedures are not eligible.