Plan Year: The plan year runs from September 1 to August 31. Each year you will need to make a new election if you wish to continue on the plan.

Election Issues

You can only make an election under the plan prior to the beginning of the plan year (September 1). After that date you cannot change your election or make a new election unless a qualifying event occurs (such as marriage, divorce, gain or loss of spouse or dependent child, spouse gains or loses medical coverage, spouse starts or stops working full-time).

Direct deposit of your SelectAccount reimbursements is available.

Another option is crossover. This option is available to employees who have their health insurance through the Diocese of Crookston group plan. When you incur a medical claim, it is sent to BCBS for processing. If you select crossover, once BCBS has finished processing the claim, they will send it to SelectAccount to be processed. That means you don’t need to fill out a claim form. Note that this would only apply to items that go through our health plan; you would still need to file claims for dental and dependent care expenses.

Withholding

The amount that you elect will be withheld from your paycheck on an equal basis throughout the plan year unless you specify otherwise. For example, if you are paid semimonthly over a 12-month period, 1/24 of your election amount will be withheld from each paycheck unless you select something different (such as having it withheld over 10 months instead of 12).

The withholding will be done on a pre-tax basis. That means that the money will be subtracted from your paycheck BEFORE taxes are computed. This will result in you paying less taxes than you would if you didn’t make an election under the plan.