Get the free Medical and dependent care flex benefit policy maintenance
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January 21, 2015,
To:
From:Mayor Erich and City Council
David Fierce, City ManagerSubject:Medical and dependent care flex benefit policy maintenanceACTION:For vote Monday, January 26, 2015Brief History
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What is medical and dependent care?
Medical and dependent care refers to expenses related to the health and well-being of an individual or a dependent, such as medical or dental treatments, childcare, or eldercare.
Who is required to file medical and dependent care?
Individuals who have incurred qualifying medical and dependent care expenses and wish to use a Flexible Spending Account (FSA) or a Dependent Care Account (DCA) to pay for these expenses are required to file medical and dependent care claims.
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To fill out medical and dependent care claims, individuals need to provide details of the expenses incurred, including dates, types of services received, and amounts paid. Proof of payment and receipts may also be required to substantiate the claims.
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The purpose of medical and dependent care accounts is to allow individuals to set aside pre-tax dollars to pay for qualified healthcare and dependent care expenses, thereby reducing their taxable income and saving money on out-of-pocket costs.
What information must be reported on medical and dependent care?
Information such as the name and address of the service provider, a description of the services provided, dates of service, and the amount paid for the services must be reported on medical and dependent care claims.
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