Spending Accounts
Graham will continue to offer the opportunity to enroll in spending accounts through MMA East's Spending Account Portal, now Businessolver.
Graham employees have the opportunity to participate in several spending accounts. Since the funds are pre-tax, every dollar you contribute earns you more in tax savings! Graham offers a Health Care FSA, Limited Purpose Healthcare FSA, Dependent Care FSA, and Commuter/Transit Spending Accounts via MMA East's Spending Account Portal, now through Businessolver. Employees who choose to enroll in any of the Flexible Spending Account offerings through MMA/Businessolver for the first time will receive an MMA Blue Card Mastercard® to use their funds at the point of service, so long as there are funds available. Since this is an IRS-approved program, please be sure to keep receipts for purchases you make with your Blue Card for eligible transit and health care expenses.
As in years past, there will continue to be a 90-day grace period with Businessolver. Please submit all claims incurred between July 1, 2024, and June 30, 2025, to Businessolver by September 30th.
Due to the Short Plan Year, you will only be able to elect up to half of the IRS maximum as your contribution to the Medical and Dependent Care FSAs for the last six months of 2025. For the Medical FSA, $640 will roll over from this current year for July 1, 2025, and $660 will roll over from December 31, 2025 to January 1, 2026. You will have the opportunity to re-enroll for plan year 2026 during our Open Enrollment in the Fall.
SPENDING ACCOUNT PORTAL
THE FSA MOBILE APP
The FSA Mobile App is a simple, intuitive experience that helps make it easy to manage your FSA accounts. On the FSA Mobile App, you can:
- Check current flexible spending account balances
- View account activity and receive alerts via text message
- View transaction details
- File new claims with receipt images
- Review expense information
- Enter a new expense
- Submit claims and upload receipts using the mobile device’s camera
- Manage expense receipts
- Promptly file claims for their reimbursement accounts The free mobile app is available on iPhone, Android, iPad, and iPod Touch.
Simply download the App “Spending Account Mobile Center” for your device and login using: Username: Last Name + Last 4 digits of Social Security Number + MMA. (Note: no plus signs) Example Username: Smith1234MMA Default Password: Last 4 of SSN Example Password: 1234
Please make sure you plan carefully when determining how much to contribute towards your healthcare FSA. If you leave the company prior to the end of the plan year and do not use all funds, you will forfeit the unused funds upon termination of employment (unless you elect COBRA).
HEALTH CARE FLEXIBLE SPENDING ACCOUNT (FSA)
A Health Care FSA is a pre-tax benefit account used to pay for eligible medical, dental, and vision care expenses. It’s a smart, simple way to save money while keeping you and your family healthy and protected. When you make an election, this contribution is automatically withheld from your paycheck, so it does not count as income for certain tax purposes. You can elect up to half of the IRS maximum ($1,650) for the short 2025 plan year. These funds are available to you at the beginning of the plan year.
FSA's do have a 'Use it or Lose it Rule', which means FSA participants typically need to spend most or all of their FSA funds by the end of the plan year. For the current 2024 plan year, Graham allows employees a $640 carry over amount into the short 2025 plan year. If you elect to enroll in the Health Care FSA for the short 2025 plan year and have a rollover balance of $660 or less, it will roll over into your 2026 Healthcare FSA.
You can use your FSA for:
- Prescriptions
- Over-the-counter medicine
- Glasses, contacts, and LASIK
- Dental services and procedures
- Copays and deductibles
- Flu shots and more!
LIMITED PURPOSE FLEXIBLE SPENDING ACCOUNT (LPFSA)
A Limited Purpose FSA is a pre-tax benefit account used to pay for eligible dental and vision care expenses. Like the FSA, when you make an election, this contribution is automatically withheld from your paycheck, so it does not count as income for certain tax purposes. These funds are available to you at the beginning of the plan year. If you are enrolled in the Option 1 or Option 2 Plan, you are only eligible to participate in the LPFSA.
LPFSA's do have a 'Use it or Lose it Rule.' However, for the current 2024 plan year, Graham allows employees a $640 carry over amount into the short 2025 plan year. If you elect to enroll in the LPFSA for the short 2025 plan year and have a rollover balance of $660 or less, it will roll over into your 2026 LPFSA.
You can use your FSA for:
- Dental expenses: x-rays, crowns, fillings, and other orthodontia work
- Dental and vision copays and deductibles
- Eyeglasses
- Contact lenses and solution
- Lasik and more!
HOW TO USE YOUR HEALTHCARE AND LIMITED PURPOSE FSAs FOR MEDICAL CARE
Present your Meritain ID Card
Complete your visit with provider
Provider will submit claim for processing
Meritain will adjust the claim and prepare the EOB (Explanation of Benefits)
You will receive an EOB and invoice from your provider
Pay the patient responsibility with your MMA Blue Card Mastercard®
DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT (FSA)
A Dependent Care Account can be used to pay for eligible day care, after school care, and senior care expenses with pre-tax money. This account can help to relieve some of the financial burden from caring for your loved ones.
A DCFSA does not have a uniform coverage rule. This means you can only be reimbursed up to the amount you’ve accumulated in your account — a pay-as-you go approach. Due to the short plan year, you will only be able to elect up to half of the IRS maximum: $2,500 per household; $1,250 if married filing separately
Eligible expenses are defined as those that enable you (and your spouse) to work, look for work, or be a full-time student, including:
- Child care centers that care for six or more children and that meet the IRS’s definition of a qualified day care center
- Caregivers for a disabled spouse or dependent who lives with the participant
- Eligible babysitting costs
- Nursery schools
For the purposes of your Dependent Care Account, a qualified person is defined as any of the following:
- A child under age 13 who qualifies as a dependent for income tax purposes.
- A spouse who is physically or mentally unable to care for himself or herself.
- A parent who is unable to care for himself or herself and who qualifies as a dependent for income tax purposes.
- A child who is not under age 13 but mentally or physically incapable of self-care or a qualified day care center
COMMUTER REIMBURSEMENT ACCOUNT
The Parking/Transit reimbursement account allows you to contribute up to $325 per month of your pre-tax salary to pay for qualified commuting costs. This benefit is not impacted by the short plan year, as this account operates on monthly limits and allows funds to roll over from year-to-year.
When you use pre-tax commuter benefits, you keep more of your hard earned money in your pocket and end up saving on your income taxes. You can use your Commuter Reimbursement Account Funds for eligible costs associated with:
- Transit
- Rideshare services: Lyft Shared, uberPOOL, Via, etc.
- Parking
- Biking
ADDITIONAL SPENDING ACCOUNT OPTION
ADOPTION ASSISTANCE PROGRAM
Eligibility: 30 days following date of hire.
This benefit is administered by MMA East's spending account platform. Graham offers an adoption benefit of $10,000, once per household, for the legal adoption of a child. Please reach out to Human Resources for more information and/or if you would like to participate in this program.
Eligible expenses:
- Reasonable and necessary legal adoption fees
- Court Costs
- Attorney Fees
- Other expenses which are directly related to, and the principal purpose of which is for the legal adoption of an eligible child
