|Qualifying Events for Dependent Children|
- Loss of dependent child status under the plan rules.
- Voluntary or involuntary termination of the covered employee's employment for any reason other than gross misconduct.
- Reduction in the hours worked by the covered employee below plan eligibility requirements.
- Covered employee's becoming entitled to Medicare.
- Divorce or legal separation of the covered employee.
- Death of the covered employee.
|Qualifying Events and Flexible Spending Accounts or Health Savings Accounts|
For specific questions with regards to Flexible Spending Accounts and Health Savings Accounts; please consult with your benefits specialists; however, below are guidelines for FSA's and HSA's when administering a qualifying event:
Employees may only make pre-tax contributions to their H.S.A. when they are enrolled in an H.S.A. qualified High Deductible Health Plan. Once an employee is no longer in said health plan, they are no longer eligible to make pre-tax contributions.
A spouse of an employee actively enrolled in an H.S.A. may NOT participate in an F.S.A. The reason being is that the spouse, whether they are on the employee's plan or not, is eligible to receive reimbursement from the H.S.A. If they were to also enroll in the F.S.A, this is considered 'double dipping'.
Once an employee is no longer enrolled in an H.S.A. qualified High Deductible Health Plan, they will still have access to the funds remaining (not including the employer contribution). Also, they are now eligible to enroll in any other reimbursement plan, including their spouse.