Claim Your FSA, Fitness Expenses by Mar. 31
March 31 is the deadline to submit claims for 2017 Flexible Spending Accounts and fitness center membership dues.
Flexible Spending Accounts
If you had a 2017 Health Care, Limited Use Health Care or Dependent Care Flexible Spending Account (FSA), the deadline for submitting eligible expenses is March 31, 2018. Expenses must have been incurred during 2017 to be eligible for reimbursement. Under IRS rules, you forfeit all but $500 of any money left in your account after the year's expenses have been paid. (The $500 carryover does not apply to Dependent Care FSA expenses.)
Fitness Reimbursement (If you have unclaimed 2017 expenses)
- If you belong to a BMC onsite gym in Houston: Submit a copy of your final 2017 pay stub to Your Spending Account (YSA) by March 31. Even if your monthly membership dues are deducted from your paycheck, you still need to file a claim to be reimbursed for dues.
- If you belong to an offsite fitness center: Submit your 2017 receipts to YSA for membership dues or exercise classes by March 31.
To request reimbursement, log on to My BMC Compensation & Benefits and click on this path: Visit My Spending Accounts> Other Accounts>Request Fitness Reimbursement.
See the step-by-step guide to learn more or contact YSA at 1-877-262-4849. Representatives are available Monday to Friday, 8 a.m. to 9 p.m., Eastern time.
bWell Rocks Tour: New Phase Starts March 5
The bWell Rocks Tour is serving up a hit list of new releases starting this month. Visit mybmcwellness.com to sign up for the tour, check your progress, or sign up for a new challenge. Earn bWell points with these quick and easy challenges:
- Clear the Clutter: Choose an area of your life to declutter and start with one small step at a time, at least one day each week. Reward: 120 points.
- Water First for Thirst: Consume your recommended daily water intake at least five days each week. Reward: 120 points.
- Sleep Challenge: Remove stimulating foods and drinks from your diet or eliminate them after 2 p.m., at least three days each week. Reward: 120 points.
- Protect Your Credit: Check your credit score by pulling an annual free credit report. Reward: 50 points.
- Just in Case Fund: Weekly savings goal. Save up your $1,000 emergency fund to create peace of mind. Reward: 120 points.
Don’t Skip the Screening
Even if you aren’t participating in the bWell program, it’s still a good idea to complete a health screening. Many serious health risks, such as high blood pressure, high cholesterol, and high blood sugar, have no obvious symptoms but can lead to serious health issues. By completing a health screening or biometric screening, you’re demonstrating a commitment to understanding your health status, which can lead to informed decisions, health improvements, and a decreased need for medical care. And if you also complete the online Well-Being Assessment at mybmcwellness.com, you’ll receive a gift valued at a $100. Get the details here.
Talk to a Therapist from Your Home for Privacy and Convenience
The therapist is always in with MDLIVE, an on-demand health care service included with the BCBSTX medical plans. MDLIVE teletherapy lets you speak with a licensed therapist via secure video or phone at a time that works for you. You can choose where you are most comfortable to speak, and then connect at the scheduled time using your personal smartphone or laptop.
Behavioral therapy consultations are $40 for PPO plan members. For HSA Plan members, consultation costs range from $80 to $175 until the plan deductible is met. After the deductible is met, members pay 15% of the consultation cost.
To get started, download the mobile app. Select Activate Benefit Here, under Employer or Insurance Benefits. You’ll be asked to enter your BCBSTX member ID number, which starts with BMY.
Therapists are trained to treat a wide range of conditions, including stress, parenting issues, depression, eating disorders, relationship and marriage issues, addictions and more.
Wondering how to determine if what you hear or read from the media is accurate? If so, take an hour to learn: how media literacy is defined, the problem with insufficient media literacy, how people struggle in their consumption of media, methods of manipulation/distortion, and what to do to increase your own and potentially others’ media literacy. Join Magellan’s live interactive webinar on Wednesday, March 14, Media Literacy and “Fake News.” Space is limited so register now.
Useful Links
Learn how to spot fake news from National Public Radio and the International Federation of Library Associations and Institutions (IFLA).
Don’t Miss Out on Free Money for Your 401(k)
For every dollar you save in your 401(k) on a before-tax or Roth basis, BMC will contribute another dollar...up to the first 5% of your eligible pay (includes base pay, bonuses, and sales commissions). BMC matching contributions are made each pay period with your payroll contributions. You need to contribute 5% of your pay every paycheck to pick up every BMC match dollar. Find out how to not miss out on BMC matching contributions to your 401(k) account. Read More...
Planning for Tax Changes in 2018
Given the tax changes coming in 2018, now is a good time to consider strategies to help you reduce your tax bill. The best way to begin is by pulling out 2017’s tax return along with your current pay stubs and account statements. Making a few quick projections will help you estimate your present tax situation and identify any concerns you’ll need to address before the tax-filing deadline. Read More…
Source: 360financialliteracy.org
Useful Links
Read Fidelity’s quick overview of the changes brought about by The Tax Cuts and Jobs Act and how they may affect your taxes.