What is MERP?
MERP is a Flexible Spending Account (FSA). It is a pre-tax benefit account that can be used to pay for eligible medical, dental, and vision care expenses that aren't covered by your insurance plan or elsewhere.
How Does MERP Work?
- Begin by estimating your eligible, out-of-pocket health care expenses for the upcoming year.
- Use your estimate to enroll in MERP.
- The money you elect will be deducted from your paycheck on a pre-tax basis.
Important Facts about MERP
- MERP funds can be used eligible out-of-pocket expenses for yourself and/or your dependents (spouse and eligible children). Domestic Partners are not considered eligible dependents under federal law; therefore you cannot claim their expenses (unless they are a "qualifying relative").
- The minimum annual election goal for MERP is $240, while the maximum is $2,550. *Increasing to $2,600 for 2018.
- You have access to the total goal you have elected for MERP on Jan. 1 of the plan year.
- New participants will receive a “Benny” debit card in the mail, which can be used for out-of-pocket MERP eligible expenses. Previous MERP participants should already have a Benny card.
- Up to $500 in unreimbursed funds will automatically be carried over for use in the next plan year. Please note: funds in excess of the $500 rollover limit are subject to the “use it or lose it” rule.
What are some examples of MERP-eligible expenses?
Certain dental expenses
Review the list of eligible expenses on the PacificSource Website
When can I sign up?
New hires can sign up within 31 days of employment.
Every Open Enrollment period (Oct. - Nov.) you can sign up for MERP/DCAP for the following plan year.
You may also be able to change or enroll during the plan year due to certain qualifying events (new baby, marriage, some job changes).
MERP Documents and Information
For more information, email email@example.com or call 503-988-3477.
Customer Service: Toll Free 800-422-7038 -- http://psa.pacificsource.com/PSA/