Welcome to mySHPS

Healthcare FSA
With a healthcare FSA, most employees will benefit from opening up an account. The key is to determine how much to contribute based on your (and your dependents�) predictable health, dental, vision, prescription, and OTC expenses. And�if you are like most people�those expenses are more than you think.

Sample Profiles
To give you an idea of how often people use their FSAs�and how much they can save�we�ve created some participant profiles. Of course, your expenses and needs will vary. That�s where the FSA Calculator can help you determine the contribution amount that�s right for you.

Kaylee (38), Adam (39),
Emily (8), and Andrew (3)

Makayla (25)

Joanna (55) and Dennis (60)

A married couple with two children and a combined income of $100,000. The family is in Kaylee�s health plan, an HMO, with co-pays of $20 for general visits, $40 for specialists. Their prescription plan has a $15 co-pay for generics, $30 for branded. John wears glasses/contacts and has sinus allergies. Emily wears glasses. A single woman, age 25 with an annual income of $40,000. Makayla is in a Point of Service plan with a $500 deductible. Below the deductible, she pays 30% of all medical costs - above the deductible nothing. She has a prescription plan with $20 and $40 co-pays. She wears contacts but has no other health issues. Joanna and Dennis are empty-nesters who are both in Joanna�s HMO. Their combined income is $80,000. Joanna suffers from hypertension. Dennis has been advised by the dentist that he will need a root canal, crown and cap.

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The �Use-It-Or-Lose-It� Rule
Note: Because of the tax benefits of FSAs, the Internal Revenue Service (IRS) places strict guidelines on them. One of the most important is the �Use-It-Or-Lose-It� rule. Money left in your account at the end of the year cannot be rolled over to the next plan year and cannot be paid out to you. So it�s best to plan carefully when deciding your FSA contribution.

2 � Month Extension
The IRS allows employers to add an extension that might enable you to incur expenses for 2 1/2 months beyond the current plan year to help use any remaining FSA funds. Check with your employer to see if this extension is available to you.