Medical Plans
For WGL management employees, how many hours each week do they have to work to participate in the medical plan?
30
Which medical plan are you required to be enrolled in to participate in a Healthcare Flexible Spending Account?
No medical plan requirement under IRS rules.
What is the IRS pre-tax contribution limit if I am married filing separate?
$2,500
What are the 2024 Employer HSA contribution amounts?
$800 for individual and $1,600 for family.
Which Commuter Account funds eligible public transit expenses?
Commuter Transit Account
For a WGL union employee that works 30 hours a week, when does medical coverage begin?
91st day of employment.
What is the 2024 IRS pre-tax annual contribution limit for a Healthcare FSA?
$3,200
What is the maximum age my IRS qualified dependent child is eligible for reimbursements for under the Dependent Care FSA
12 years old, unless deemed fully disabled.
Two-part Question/Answer: What are the 2024 IRS pre-tax contribution limits for the Health Savings Account and what is the age requirement for catch-up?
$4,150 for individual
$8,300 for family
$1,000 catch for those age 55 or older
What is the IRS pre-tax contribution limit for Commuter Parking accounts?
$315 per month
Which Medical Plan provides a $2,000 individual and $4,000 family out-of-pocket maximum?
CareFirst PPO Plan
What is the 2024 IRS unused carryover limit for a Healthcare Flexible Spending Account?
$640
If my spouse is a stay-at-home parent but we have a babysitter watch my 9 y/o and 10 y/o children every now and then, can I claim reimbursement for the babysitter expenses?
No, both parents must be working or in school full-time to be eligible to participate in a Dependent Care FSA.
What is the name of the Bank that manages our HSA account holders?
UMB Bank
What is the pre/post maximum per month I can contribute to both commuter transit and parking accounts?
$500: $315 pre-tax and $185 post-tax per month
An embedded deductible approach means each person needs to meet the individual deductible and out-of-pocket maximum before the plan begins paying its share for that individual. Under the aggregate approach, there is one family limit that applies to all before the plan begins paying for any individual's eligible expenses.
Can I have a limited purpose Healthcare FSA with a Dependent Care FSA account?
Yes
Is private school tuition for my 11 y/o daughter eligible for Dependent Care FSA reimbursement?
No, private school tuition is not eligible under IRS rules.
Which Flexible Spending Account can I have with an HSA?
Limited Purpose Healthcare Flexible Spending Account.
How long do I have to claim commuter transit refunds from my employer.
Never, transit refunds are not permissible by the IRS, only parking contributions.
Name 5 different qualifying life events to make changes to benefits within 30 days of the life event.
1. Marriage
2. Divorce
3. Legal separation
4. Loss of other group health insurance
5. Gain of other group health insurance
6. Eligibility for Medicare or Medicaid
7. Birth/adoption
Two-part answer: How long do I have to incur eligible healthcare FSA expenses before they are forfeited?
I have until December 31 of the plan year so long as I remain active or through my last day of employment if terminated prior to December 31. If terminated, I have 90 days from term date to file for reimbursement.
Unused balance of up to $640 may carryover to new plan year if active on December 31 of the prior year.
How long do I have to submit for reimbursement of eligible day care expenses after the year has ended?
You have until March 31 of the following year to claim for eligible dependent care expenses.
If I am 57 and enrolled in the CareFirst CDHP as single coverage from January 2024 - July 2024 and change to family coverage August 2024 - December 2024, what is my 2024 IRS pre-tax limit to fund in the HSA?
$4,150 / 12 = $345.83 x 7 = $2,420.81 (months Jan. - Jul.)
$8,300 / 12 = $691.67 X 5 = $3,458.35 (months Aug. - Dec.)
Age 57 = $1,000 catch-up
Total: $6,879.16 IRS pre-tax contribution limit
Can I use my Transit Commuter account to pay for my spouse's train fare while we commute to work together each month?
No, my Transit Commuter account can only be used for my eligible work commute expenses.