Maximize Your Savings with Reimbursement Accounts

Do you expect to have medical, dental or vision expenses not covered by health insurance?

Do you spend money on day care for your child?

Duke offers a Health Care Reimbursement Account and Dependent Care Reimbursement Account, allowing you to set aside money to pay for eligible expenses. Contributions to each account are automatically deducted from your pay and not subject to federal or state taxes. You can enroll and re-enroll in the accounts only during Open Enrollment, which is Oct. 22 to Nov.2. 

Here’s how the accounts helped two employees.

Save on healthcare

Stacey Mangum’s husband, Jason, needed triple bypass surgery in April after doctors found 95 percent of an artery clogged. She used her Health Care Reimbursement Account to pay for $600 in surgery-related expenses not covered by insurance. 

“Knowing I’m not in any kind of medical debt is a huge relief,” said Stacey, clinical trials project leader for Duke Clinical Research Institute. “The reimbursement account let us focus on Jason’s recovery.”

You don’t have to be in a Duke medical plan to enroll in a Health Care Reimbursement Account. If you’re in the Duke Basic plan, you automatically receive a contribution based on your coverage tier. Participants in other Duke health plans need to enroll. All participants can use the account for dependent health care expenses as long as you claim that dependent on your federal income tax return. 

Saundra Daniels, plan manager for Duke Human Resources Voluntary Benefits, said participants save 30 cents on average for every dollar contributed to the account. Plus, you can roll over up to $500 into the following year’s health care reimbursement account.

Stacey uses the reimbursement account for Jason’s cardiac therapy, as well as prescription lenses for herself. 

“There’s always a sense of peace putting money aside,” Stacey said. 

Save on childcare

For the past two summers, Bryan Evans’ 9-year-old daughter, Alayna, has attended Wytha Balance Yoga Camp in Durham. He pays for the camp with the Dependent Care Reimbursement Account, which he enrolled in a decade ago for his now 18-year-old daughter, Caira. 

“I use that money I save to support my daughters,” said Evans, field services IT analyst for Duke Health Technology Solutions.   

A dependent care reimbursement account can be used for a variety of eligible expenses, including day care or preschool for children up to their 13th birthday, household services for an elderly dependent living with you, and more. 

“Dependent reimbursement accounts help to support your family while you’re at work,” said Saundra Daniels, plan manager for Duke Human Resource’s Voluntary Benefits. 

When Evans meets a new employee around Duke, he always mentions the dependent care reimbursement account.

“It’s a godsend,” he said. “It really allows Duke employees to care for our loved ones.” 

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