Form STD.701R Reimbursement Account Enrollment Authorization - Flexelect Program - California

What Is Form STD.701R?

This is a legal form that was released by the California Department of Human Resources - a government authority operating within California. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form STD.701R?A: Form STD.701R is a reimbursement account enrollment authorization for the Flexelect Program in California.

Q: What is the Flexelect Program?A: The Flexelect Program is a program in California that allows employees to set aside a portion of their pre-tax salary to pay for certain eligible expenses, such as healthcare or dependent care.

Q: What is a reimbursement account?A: A reimbursement account is an account that allows employees to set aside money from their salary to be used for certain eligible expenses.

Q: What expenses can be reimbursed through the Flexelect Program?A: Expenses such as healthcare expenses, dependent care expenses, and certain transit and parking expenses can be reimbursed through the Flexelect Program.

Q: How do I enroll in the Flexelect Program?A: To enroll in the Flexelect Program, you need to complete and submit Form STD.701R, the reimbursement account enrollment authorization.

Q: Do I need to meet any eligibility requirements to enroll in the Flexelect Program?A: Eligibility requirements may vary depending on your employer, so it's best to check with your employer or the California Department of Human Resources for specific eligibility requirements.

Q: Can I change my reimbursement account elections after enrolling in the Flexelect Program?A: Yes, you can typically make changes to your reimbursement account elections during the annual open enrollment period or if you experience a qualifying event, such as marriage or the birth of a child.

Q: Are there any tax advantages to participating in the Flexelect Program?A: Yes, participating in the Flexelect Program can offer tax advantages as the money you contribute to the reimbursement account is deducted from your salary on a pre-tax basis.

Q: What happens to unused funds in my reimbursement account at the end of the plan year?A: Unused funds in your reimbursement account may be forfeited at the end of the plan year, so it's important to carefully estimate your eligible expenses when enrolling in the Flexelect Program.