Reimbursement Accounts Help You Save on Taxes
Reimbursement accounts are available for current Duke employees.
Don't leave money on the table. Reimbursement accounts help you take advantage of tax savings on eligible health care and dependent care expenses. Duke offers you two reimbursement accounts: a Health Care Reimbursement Account (for your eligible health care expenses not covered by insurance) and a Dependent Care Reimbursement Account (for reimbursement of day care expenses for eligible dependents).
You may participate in either or both accounts. However, you cannot use money from one account to receive reimbursement for the other account. Remember: the maximum allowable contribution for Health Care Reimbursement Account this year is $2,500 due to National Health Reform.
By setting aside pre-tax money from your pay into the Health Care and/or the Dependent Care Reimbursement Account, you may later file for reimbursement of eligible expenses incurred in the plan year (Jan. 1 - Dec. 31) that are not covered by insurance. Because your contributions are deducted from your pay before federal income, state income, and Social Security taxes have been withheld, you save on taxes.
If your salary is above $115,000, federal law may require your dependent care election to be readjusted. If you are affected, you will be notified during the plan year of any necessary adjustment to your contribution amount.
For more information, please see the Reimbursement Account Plan Description (PDF).
You can join if you are a regular employee scheduled to work at least 20 hours per week and are in the payroll/benefit classification eligible to participate.
To participate in the reimbursement accounts program, you must enroll during the first thirty (30) days after your date of hire or within 30 days of a family status change. Only expenses incurred on or after your effective date of coverage may be reimbursed.
The reimbursement account plans are governed by Internal Revenue Code guidelines that limit the reimbursement of either health care expenses or dependent care expenses to legal dependents. Your same sex partner is not eligible, though his/her childrens' health care expenses may be reimbursable.
Remember, participation in this program is voluntary.
If you have questions that are not addressed on this website, please contact:
Mailing Address: Claims Administrator, PO Box 14053, Lexington, KY 40512
Tips for Success
Your reimbursement account is designed to be a hassle-free way for you to save on the year's health care and dependent care costs. To keep it that way, it's important to comply with the IRS regulations that govern the program. To help you avoid any inconvenience, please keep these tips in mind:
- Know what's covered. Knowing what expenses are eligible is key.
- You and yours. Make sure you file claims only for eligible expenses for yourself, your spouse, and your eligible dependents.
- Keep your receipts. Save receipts that describe exactly what you paid for and when, just like you would to deduct them on your taxes.
- Add your email address to your personal online account to ensure you receive up-to-date communications and notifications regarding your account.
- Keep an eye on your reimbursement account. Watch your statements to see if you need to verify any claims, or check your personal online account for the latest information.
- Use all your money. Keep track of your reimbursement account balance, and plan ahead to make sure you spend the full amount before your plan year ends -- otherwise you'll forfeit the remaining balance.