Submit your 2016 Health / Dependent Care Flexible Spending Account Claims
March 31, 2017 is the deadline to submit your eligible Health Care FSA and Dependent Care FSA expenses incurred last year. You may submit your claim(s) online at www.myuhc.com or submit the printed claim form.
Eligible 2016 Health Care FSA, and/or Dependent Care FSA expenses must be incurred on or before December 31, 2016, to count towards your 2016 contribution election. Additionally, up to $500 of your unused funds in your 2016 Health Care FSA will carry over o this year, for use against 2017 eligible expenses. Unused funds over $500 are forfeited. This carryover provision does NOT apply to the Dependent Care FSA. Claims received after the deadline of March 31, 2017 will be denied. More Information
Form 1095 Employer-Provided Health Insurance Offer and Coverage
The Affordable Care Act (ACA) requires you to show proof of health coverage when filing your taxes for 2016. If you are eligible for the Oracle US Benefits medical plans, you will receive the IRS Form 1095-C (and 1095-B if enrolled in a Kaiser Permanente HMO Plan). This form will help you show proof of medical coverage.
All employees eligible for Oracle US Benefits (including employees who have waived coverage) will receive the IRS Form 1095 on or before the IRS deadline of March 2, 2017:
Please Note: You may file your taxes prior to receiving your Form 1095. For more information, click here to read FAQs issued by the IRS, here to read Oracle’s FAQ for this topic, or here, to watch a short video regarding Form 1095.
HSA Contributions for Tax Year 2016
Did you know that you can make contributions to your health savings account (HSA) until the tax filing deadline of April 18, 2017 and have the contributions applied to 2016? Visit the Optum Bank Website to view information on how to make deposits into your account. Online deposits need to be made by April 10 to ensure adequate processing time. The Bank will however accept mail that is postmarked by April 18.
401(k) Savings & Investment Plan Did You Exceed the 2016 Contribution Limit?
In 2016, the maximum amount that you may defer to any and all
The amount you contributed to the plan is reported on your W2 in Box 12 (code D - for traditional pre-tax and code AA for Roth 401(k)). Employer contributions such as the Oracle match are not subject to this limit, and are not conveyed on your W-2s.
If, having reviewed your W-2s from ALL employers in 2016, you feel you have exceeded your personal limit, please contact Don Reich (Oracle’s 401(k) and Deferred Compensation Plan Manager) at email@example.com or 719-757-4132. The deadline to refund excess contributions is April 18, 2017. Keep in mind that any refund will take approximately one week to process so please make your request as early as possible. Visit the Oracle US Benefits Website for more information about the 401(k) Plan.
Form W2 - Reporting of Costs of Health Coverage
Reminder: Oracle is required to report the value of your employer (Oracle)-sponsored health coverage on your W-2 each year. The cost is calculated each month based on the plan and coverage tier you have elected. The COBRA monthly premium (net of the 2% administrative fee) is the monthly value used – and the total cost for the year is reported. Oracle Payroll reports the cost on your W-2 (Box 12 with a code DD). This provision does NOT impact your income tax return it is for reporting purposes only.
Oracle Wellness: March is National Nutrition Month
If you feel you should make some positive changes with regard to your personal nutrition and eating habits, consider starting with small change. Rather than making drastic changes in your eating habits, work to incorporate smaller, more manageable changes into your daily routine. Taking this approach can avoid feelings of deprivation and resentment. The small changes you choose initially will help you find success almost immediately. With any difficult change, success is a huge motivator to continue toward the ultimate goal.
Generally speaking, try to start with small, yet effective healthy eating changes:
For more information, visit the Oracle Wellness website.
Rev. Date: 02/17/2017