Tag: Full-Time

Voluntary Accident Insurance

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Voluntary Accident Insurance

Plan Information

The Voluntary Accident Insurance plan, administered by Reliance Matrix, provides a range of fixed, lump-sum benefits for injuries resulting from a covered accident. These benefits are paid directly to the insured and may be used for any reason, from deductibles and prescriptions to transportation and childcare.

Voluntary Accident Insurance Plan Highlights: English | Spanish

The Voluntary Accident Insurance plan, administered by Reliance Matrix, provides a range of fixed, lump-sum benefits for injuries resulting from a covered accident. These benefits are paid directly to the insured and may be used for any reason, from deductibles and prescriptions to transportation and childcare.

Voluntary Accident Insurance Plan Highlights: English | Spanish

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Eligibility

All benefits-eligible full-time Team Members and covered dependents are eligible for Voluntary Accident Insurance.

Dependents can include:

  • Your legal spouse or domestic partner who is under the age of 70 on the date of application.
  • Your dependent children from birth to 26 years.

A person may not have coverage as both a Team Member and a dependent.

Biweekly Plan Costs

CoverageBiweekly Rate
You$3.91
You + Spouse/Domestic Partner$7.26
You + Child(ren)$9.18
You + Family$12.17

Schedule of Benefits

BenefitsAmount
Ambulance$350 Ground, $1,750 Air
Blood, Plasma and Platelets$400
BurnsTo $2,000 for 2nd degree burns; To $16,000 for 3rd degree burns; Skin Graft - 50% of benefit payable for Burns
Chiropractic Services (per Visit)$60 per session, 6 sessions maximum
Coma$10,000
Concussion$300
Dental Injury$300 for Crown; $100 for Extraction
Diagnostic Exams$250 per CT/MRI scan
DislocationTo $4,000 for Non-surgical; To $8,000 for Surgical; Partial - 50% of full dislocation; Multiple - 200% of highest dislocation benefit
Emergency Treatment$225
Epidural Anesthesia Injection (per Injection)$200, 2 maximum
Eye Injury$200 for removal of foreign object, $400 for surgical repair
FracturesTo $6,250 for Non-surgical; To $12,500 for Surgical repair; Chip fracture: 50% of nonsurgical benefit; Multiple fractures: 200% of highest sustained fracture
Initial Hospital Admission$2,000
Initial Intensive Care Unit (ICU) Hospital Admission$2,000
Hospital Confinement (per Day)$350, 365 days maximum
Intensive Care Unit (ICU} Confinement (per Day)$700, 30 days maximum
LacerationsTo $800
Lodging (per Day)$175 per day up to 30 days if more than 100 miles from residence
Medical Appliances$200
Organized Youth Sports Benefit25% of the benefit amount
Paralysis$15,000 quadriplegia; $7,500 paraplegia/hemiplegia
Physical Therapy (per Session)$60, 12 sessions maximum
Physician Visit$200 Initial, $200 Follow-up
Prosthesis$1,000 for one, $2,000 for two or more
Rehabilitation Facility Confinement (per Day)$125, 30 days maximum
Surgery$250 for Exploratory; $750 for Knee Cartilage; $2,500 for Abdominal or Thoracic; $1,250 for Ruptured Disc; to $1,500 Tendon, Ligament, or Rotator cuff
Transportation$600, if more than 100 miles from residence
X-Rays$100

Features

  • Portability to Team Member age 70
  • FMLA/MSLA continuation
  • Newlywed and newborn provision
  • 24-hour travel assistance services

Exclusions

Benefits will not be paid for any loss caused by:

  • suicide;
  • war;
  • air travel (except as a passenger on commercial flights);
  • assault/felony;
  • acute or chronic intoxication;
  • voluntary consumption of illegal or controlled substance or prescribed narcotic or drug; or
  • injuries arising out of or in the course of employment for wage or profit.

For a comprehensive list of exclusions and limitations, please refer to the Certificate of Insurance. The Certificate also provides all requirements necessary to be eligible for benefits.

The plan highlights are a brief description of the key features of the RSL insurance plan. The availability of the benefits and features described may vary by state. It is not a certificate of insurance or evidence of coverage. Insurance is provided under group policy form LRS-9547-0318, et al.

Portability/Conversion

Contact Team Member Services at 855-432-MIKE (6453), Option 2, about Portability/Conversion information within 31 days of the date your coverage ends. The appropriate forms will be emailed to you. For more information, follow this link: Conversion & Portability Provisions.

Video Overview of Leave, Disability & Voluntary Benefits

Get Support

For assistance, contact Team Member Services at 855-432-MIKE (6453) and select option 2, available Monday through Friday from 8 a.m. to 5 p.m. CT. You can also open a Knowledge Zone support ticket.

Open the Knowledge Zone

File Your Claim(s) Online with Reliance Matrix

Guidance for Filing Claims with Reliance Matrix

How-To Guides

Important Note About Claims for Kaiser Members

Team Members who are enrolled in a Kaiser medical plan must complete an authorization release form in order to file a claim with Reliance Matrix.

  1. Reliance Matrix will provide you with the authorization release form to sign and return.
  2. This form is required in order for Reliance Matrix to obtain the required medical certification from your physician.
  3. Failure to provide the signed authorization release form to Reliance Matrix will result in your claim being denied.

Reliance Matrix

Disability, Life & AD&D, Accident, Critical Illness, Hospital Indemnity Insurance

Contact Information

Phone: 1-800-351-7500

Quick Links

Long-Term Disability (LTD) Insurance

Paycheck Insurance for When You Can't Work
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Long-Term Disability (LTD) Benefits

The Long-Term Disability (LTD) Insurance plan, administered by Matrix, provides income protection if you become disabled and cannot work due to an illness or injury that lasts for more than 90 days.

LTD Insurance Plan Highlight Sheets

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Biweekly Premium Cost

LTD coverage is company paid for salaried Team Members. Hourly team members may elect LTD on a voluntary basis.

Age
Team Member Rate
per $100 of Covered Pay
Less than 25
$.05
25-29 $.06
30-34
$.101
35-39
$.161
40-44
$.252
45-49
$.384
50-54
$.462
55-59
$.535
60-64
$.577
65-69
$.577
70 and over
$.577

Eligibility & Coverage

Eligibility Percent of Earnings Replaced Maximum
Management & Salaried Team Members
All Full-Time U.S. Salaried Team Members are provided with LTD coverage at no cost. You are automatically enrolled once you become eligible. Pre-existing conditions are not covered under the LTD plan. 60% of your weekly earnings. Up to $7,500 per month.
Hourly Team Members
All full-time U.S. Hourly Team Members can buy Long-Term Disability (LTD) coverage. You must enroll within 31 days after you become eligible or wait until the next Open Enrollment. If you don’t enroll when first eligible, you will need to provide Evidence of Insurability (EOI) to qualify for coverage. Your coverage will not be effective until approved by Reliance Standard. 60% of your weekly earnings. Up to $5,000 per month.

Pre-Existing Condition Limitation

The LTD plan includes a pre-existing condition limitation. You qualify as having a pre-existing condition if both statements below are true:

  1. You received medical treatment, consultation, care or services, including diagnostic measures, or took prescribed drugs or medicines, or followed treatment recommendations in the three (3) months just prior to your effective date of coverage or the date an increase in benefits would otherwise be available; or you had symptoms for which an ordinarily prudent person would have consulted a health care provider in the three (3) months just prior to your effective date of coverage or the date an increase in benefits would otherwise be available.
  2. Your disability begins within 12 months of your effective date of coverage.

Video Overview of Leave, Disability & Voluntary Benefits

Request Leave

Get Support

For assistance, contact Team Member Services at 855-432-MIKE (6453) and select option 2, available Monday through Friday from 8 a.m. to 5 p.m. CT. You can also open a Knowledge Zone support ticket.

Open the Knowledge Zone

File Your Claim(s) Online with Reliance Matrix

Guidance for Filing Claims with Reliance Matrix

How-To Guides

Important Note About Claims for Kaiser Members

Team Members who are enrolled in a Kaiser medical plan must complete an authorization release form in order to file a claim with Reliance Matrix.

  1. Reliance Matrix will provide you with the authorization release form to sign and return.
  2. This form is required in order for Reliance Matrix to obtain the required medical certification from your physician.
  3. Failure to provide the signed authorization release form to Reliance Matrix will result in your claim being denied.

Resources

Reliance Matrix

Disability, Life & AD&D, Accident, Critical Illness, Hospital Indemnity Insurance

Contact Information

Phone: 1-800-351-7500

Quick Links

Short-Term Disability (STD) Insurance

Income Protection for Unforeseen Illnesses & Injuries
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Short-Term Disability (STD) Benefits

The Short-Term Disability (STD) Insurance plan, administered by Matrix, pays a weekly benefit if you can’t work due to a non-work-related health condition, illness, or injury.

The program provides up to 100% base pay replacement while on short-term disability leave to ensure that Team Members continue to receive income while they are not able to work due to an illness or medically-required absence.

STD Insurance Plan Highlight Sheet: English | Spanish

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How the Plan Works

To receive short-term disability benefits, you must be unable to perform the essential duties of your job due to accidental injury, sickness, mental illness, or pregnancy.

After your waiting period of either 7 or 14 days, your disability benefits are paid based on your condition and physician statement.

There is no waiting period for maternity disability.

Eligibility & Coverage

EligibilityWhen STD Begins1Percent of Earnings2 ReplacedHow Long Benefits Are Paid
Store, Distribution Center, Artistree Hourly Team Members3
You must enroll within 31 days after you become eligible or wait until the next Open Enrollment.After 14 consecutive days of disability60% of your weekly earnings up to the $1,000 weekly maximumUp to 11 weeks
Support Center Hourly Team Members3
You must enroll within 31 days after you become eligible or wait until the next Open Enrollment.After 7 consecutive days of disability60% of your weekly earnings up to the $1,000 weekly maximumUp to 12 weeks
Hourly Assistant Store Managers3
You automatically will be enrolled once you become eligible.After 7 consecutive days of disability60% of your weekly earnings up to the $1,000 weekly maximumUp to 12 weeks
Salaried Team Members
You automatically will be enrolled once you become eligible.After 7 consecutive days of disability100% of your weekly earningsUp to 12 weeks
1The STD benefit will be paid based on your duration of disability. Generally, the duration for maternity disability is up to 6 weeks following a normal delivery and up to 8 weeks following a C-section. The normal elimination period applies, beginning on the date the Team Member’s doctor reports the Team Member is disabled. There is no elimination period for maternity disability.
2This is your usual pay rate in effect when you first became disabled. It does not include bonuses, overtime pay, extra benefits or compensation.
3Hourly STD is not available in California, Connecticut, District of Columbia, New York, Rhode Island, Massachusetts, Washington, or New Jersey. Exempt Team Members are auto-enrolled in STD.

Pre-Existing Condition Limitation

The STD plan includes a pre-existing condition limitation. If you have a pre-existing condition, you may still be eligible for a reduced disability benefit. You qualify as having a pre-existing condition if both statements below are true:

  1. You received medical treatment, consultation, care or services, including diagnostic measures, or took prescribed drugs or medicines, or followed treatment recommendations in the three (3) months just prior to your effective date of coverage or the date an increase in benefits would otherwise be available; or you had symptoms for which an ordinarily prudent person would have consulted a health care provider in the three (3) months just prior to your effective date of coverage or the date an increase in benefits would otherwise be available.
  2. Your disability begins within 12 months of your effective date of coverage.

Biweekly Premium Cost

  • STD coverage is company paid for salaried Team Members. 
  • The STD rate for Store, Distribution Center, and Artistree Team Members is $0.808 per $10 of weekly benefit. 
  • The STD rate for Support Center Team Members is $0.726 per $10 of weekly benefit. 

You can see your per-paycheck cost based on your hourly base pay rate when you enroll in Workday. 

Video Overview of Leave, Disability & Voluntary Benefits

Request Leave

Get Support

For assistance, contact Team Member Services at 855-432-MIKE (6453) and select option 2, available Monday through Friday from 8 a.m. to 5 p.m. CT. You can also open a Knowledge Zone support ticket.

Open the Knowledge Zone

File Your Claim(s) Online with Reliance Matrix

Guidance for Filing Claims with Reliance Matrix

How-To Guides

Important Note About Claims for Kaiser Members

Team Members who are enrolled in a Kaiser medical plan must complete an authorization release form in order to file a claim with Reliance Matrix.

  1. Reliance Matrix will provide you with the authorization release form to sign and return.
  2. This form is required in order for Reliance Matrix to obtain the required medical certification from your physician.
  3. Failure to provide the signed authorization release form to Reliance Matrix will result in your claim being denied.

Resources

Reliance Matrix

Disability, Life & AD&D, Accident, Critical Illness, Hospital Indemnity Insurance

Contact Information

Phone: 1-800-351-7500

Quick Links

Life and AD&D Insurance

Protection for Loved Ones in the Event of the Unexpected

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Life Insurance

Basic Life Insurance

All full-time Team Members, regardless of whether you enroll in a medical or dental plan, will receive Basic Life Insurance at no cost to you. Coverage amounts are outlined below.

Basic Life Insurance coverage amounts for you and your spouse/domestic partner reduce by 50% at age 70.

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Basic Life Coverage

Coverage Tier Benefit
You $25,000
Your Spouse/Domestic Partner $2,000
Your Child(ren) $1,000

Basic Life Insurance Plan Highlights: English | Spanish

Voluntary Life Insurance

You can also opt to purchase Voluntary Life Insurance coverage for yourself, your spouse/domestic partner, and your children. Optional/Voluntary Life Insurance coverage amounts for you and your spouse/domestic partner reduce by 50% at age 70.

If you are newly eligible to enroll, you can elect coverage up to the Guarantee Issue amount without answering health questions. Otherwise, you’ll be required to provide Evidence of Insurability (EOI) and be approved by Reliance Standard before coverage begins.

Voluntary Life Insurance Plan Highlights: English | Spanish

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Optional Life Coverage

Coverage Tier Benefit
You Up to $700,000 (in $10,000 increments); Guarantee Issue: $500,000
Your Spouse/Domestic Partner $5,000 to $100,000 (in $5,000 increments); Guarantee Issue: $30,000
Your Child(ren) Up to $10,000 (in $1,000 increments)

Biweekly Premium Cost

Age
Team Member Rate
per $10,000 of Coverage
Spouse/Domestic Partner Rate
per $5,000 of Coverage
Less than 30
$.32
$.16
30-34
$.37
$.18
35-39
$.55
$.28
40-44
$.78
$.39
45-49
$1.29
$.65
50-54
$2.08
$1.04
55-59
$3.28
$1.64
60-64
$4.02
$2.01
65-69
$6.51
$3.25
70-74
$11.54
$5.77
75 and over
$19.94
$9.97

Life Insurance Claims

Reliance Matrix offers five simple ways for employees and beneficiaries to submit a Life Insurance claim or check the status of a claim.

Learn More

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AD&D Insurance

Basic AD&D Insurance

All full-time Team Members, regardless of whether you enroll in a medical or dental plan, will receive Basic Accidental Death & Dismemberment (AD&D) Insurance at no cost to you.

Basic AD&D Insurance Plan Highlights: English | Spanish

Voluntary AD&D Insurance

You can also opt to purchase Voluntary Accidental Death & Dismemberment (AD&D) Insurance coverage amounts for you and your spouse/domestic partner, reduced by 50% at age 70.

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Optional AD&D Coverage

Coverage Tier Benefit
You 1x–8x your annual base pay (up to $700,000)
Your Spouse/Domestic Partner $5,000–$100,000 (in $5,000 increments)
Your Child(ren) $1,000–$10,000 (in $1,000 increments)

Biweekly Premium Cost

Coverage Tier Cost per $1,000 of coverage
You $.012
Your Spouse/Domestic Partner $.012
Your Child(ren) $.012

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Voluntary Accident Insurance

Voluntary Critical Illness Insurance

Voluntary Hospital Indemnity Insurance

Beneficiaries

Designate & Manage Your Beneficiaries

A beneficiary is an individual or entity that will receive all or a portion of the insurance proceeds that may become payable if you die.

You may designate one or more individuals, including a trust or your estate, as a beneficiary. If you designate more than one beneficiary, the proceeds are divided equally unless you indicate otherwise on your beneficiary designation. You can divide the proceeds based upon a percentage or fraction, as long as the total equals 100%.

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What information do I need to name my beneficiary?

You will need the beneficiary’s full first and last name, complete address and phone number, and relationship to you.

When can I change my beneficiary?

Generally, you may change your beneficiary at any time. Life events like marriage, divorce or the birth of a child, are often good times to assess your beneficiaries. Log in to Workday to update your beneficiaries.

What happens if I don't name a beneficiary?

In the event that 1) there is not a named beneficiary, 2) all of the named beneficiaries die before you, or 3) the beneficiary records are lost or destroyed, insurance is generally paid in the following order:

  • Surviving spouse
  • Surviving children in equal shares
  • Surviving parents in equal shares
  • Surviving siblings in equal shares
  • The estate

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Claims, Portability & Conversions

Guidance for Filing Claims with Reliance Matrix

How-To Guides

Important Note About Claims for Kaiser Members

Team Members who are enrolled in a Kaiser medical plan must complete an authorization release form in order to file a claim with Reliance Matrix.

  1. Reliance Matrix will provide you with the authorization release form to sign and return.
  2. This form is required in order for Reliance Matrix to obtain the required medical certification from your physician.
  3. Failure to provide the signed authorization release form to Reliance Matrix will result in your claim being denied.

File Your Claim(s) Online with Reliance Matrix

Portability & Conversions

For assistance with Portability and Conversion, within 31 days of the date your coverage ends, contact Team Member Services at 855-432-MIKE (6453) and select Option 2.

Portability Request & Continuation Forms:

Conversion Forms:

Conversion & Portability Provisions

Get Support

For assistance, contact Team Member Services at 855-432-MIKE (6453) and select option 2, available Monday through Friday from 8 a.m. to 5 p.m. CT. You can also open a Knowledge Zone support ticket.

Open the Knowledge Zone

Provider

Reliance Matrix

Disability, Life & AD&D, Accident, Critical Illness, Hospital Indemnity Insurance

Contact Information

Phone: 1-800-351-7500

Quick Links

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Michaels Benefits

Locate Benefits Information Using the Menu Above

Employee Assistance Program (EAP)

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Aetna Resources for Living EAP

Supporting Your Mental & Emotional Well-Being

At Michaels, we care about your mental health as much as we care about your physical health. The Aetna Resources for Living Employee Assistance Program (EAP) is a free, confidential resource available for you and your family — even if you’re not enrolled in any Michaels benefit plans.

The EAP can help you:

  • Manage stress, money worries, and family worries.
  • Deal with work and life services, like child care, elder care, and education.
  • Locate resources for adoption, relocation, volunteer opportunities, camps, pets, and more.

  • Get support for your emotional well-being.

EAP Resources for Spanish Speakers

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Care Kits

The EAP offers free Care Kits to help you through life’s important stages, including:

  • Pregnancy Care Kit
  • New Baby Care Kit
  • Child Safety Care Kit
  • Active Adult Care Kit
  • Elder Care Kit

Counseling Services & Mental Health Resources

The EAP includes counseling services for all Michaels Team Members:

  • Full-time Team Members are eligible to receive up to three (3) face-to-face or televideo counseling sessions per issue at no charge.
  • Part-time Team Members are not eligibile for face-to-face counseling sessions, but are eligible to receive confidential counseling by phone at any time.

You can call 24 hours a day for in-the-moment emotional well-being support. Services are free and confidential, and can help with a wide range of issues, including:

  • Anxiety
  • Relationship support
  • Depression
  • Stress management
  • Work/life balance
  • Family issues
  • Grief and loss
  • Self-esteem and personal development
  • Substance misuse and more

Financial Constitution Resources

Sometimes a little help can go a long way. You can get a free 30-minute consultation for each issue you’d like to ask about, from creating a budget to setting long-term goals.

To get started, either call 1-800-283-5645 (TTY 711) or visit resourcesforliving.com (Username: Michaels / Access Code: 8002835645)

Learn More: Program Overview

Summary of EAP Benefits

Supportiv: A Peer Support Service For All Team Members

Michaels offers all Team Members unlimited access to Supportiv, an online peer support service that can help you cope with stress, work, family issues, loneliness, anxiety, parenting, motivation, and more. Your immediate family members above the age of 13 can also use Supportiv. For more information, follow the link below.

Learn More

How to Use Supportiv & Your EAP

Helpful Resources

a screenshot of the first page in the Michaels EAP mental well-being resource

New Member Website Introduction

Supporting Your Mental Well-Being

Learn More & Access Resources

For more information and to access EAP resources, log in to the Resources for Living member portal using the information below, or call 1-800-283-5645 (TTY 711).

Username: Michaels
Access Code: 8002835645

Provider

Aetna

Resources for Living Employee Assistance Program (EAP)

Flexible Spending Accounts (FSAs)

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What is an FSA?

A flexible spending account (FSA), administered by Health Equity, allows you to set aside tax-free money to help pay for eligible out-of-pocket expenses.

  • There are three types of FSAs that you can choose from: Standard FSA, Limited Purpose FSA (LPFSA), and Dependent Care FSA (DCFSA).
  • After you enroll in your FSA, you will receive debit card to use when paying for eligible expenses. Your FSA funds, which are determined by how much you choose to contribute, are immediately available once deducted from your paycheck.
  • Your FSA paycheck deductions are tax-free, which helps reduce your taxable income.

This page provides information about choosing and managing your FSA, identifying eligible expenses, and how to file claims for reimbursement. More FSA resources can be accessed at HealthEquity.com.

FSA-Eligible Expenses

To help you determine what you can pay for with your FSA, you can search a list of eligible expenses and use the store locator to find merchants that offer FSA-eligible items.

Search the Store Locator for FSA-Eligible Items

Keep a copy of your receipts! Health Equity has a couple of ways that they verify FSA card transactions: some do not require a receipt for substantiation, while other times a receipt is required.

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When You Don't Need a Receipt

  • IIAS store or pharmacy purchases (the IIAS is a required approval system the IRS requires to list all merchants who sell goods that have FSA-eligible items; find more information at seg-is.org)
  • Prescription or eligible over-the-counter (OTC) purchases
  • Co-payments
  • Flat co-payment amounts at a doctor, dentist, vision provider, or hospital where said flat co-pays were provided
  • Recurring transactions
  • Payment made at the same location and for the same dollar amount as a prior payment for which the receipt was already approved by Health Equity at least once

When a Receipt is Required

  • Doctor’s office, hospital, dentist, or vision provider where the health plan has a deductible or coinsurance amount
  • Co-insurance and deductibles (assuming carrier files, if applicable, are unable to exactly substantiate the expense)
  • Purchases at 90% pharmacies
  • An odd dollar amount that does not match one of the flat co-pay amounts provided

Helpful Resources

Provider

Health Equity

Flexible Spending Accounts (FSA) & Health Savings Account (HSA)

Contact Information

HSA: 866-346-5800
FSA: 1-877-924-3967

Quick Links

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Filing Claims for Reimbursement

Claims for reimbursement for FSA-eligible expenses can be filed online, via fax, or via US mail. Claims will be processed within two (2) business days after receipt. To check the status of your claim, log in to your account.

File Claims Online

For faster service, file your claim online. Simply log in to your account to submit your claim electronically and upload any required documentation.

File Claims via Fax or US Mail

Claims can be submitted via fax or US mail. First, download and fill out the Reimbursement Claim Form. Then, print and send the completed form and any required documentation as follows:

  • Fax: 877-353-9236
  • US Mail: CLAIMS ADMINISTRATOR, P.O. Box 14053, Lexington, KY, 40512

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Types of FSAs: Comparing Your Options

Use the information below to help you decide which type of FSA is right for you. Health Equity also offers guides for Comparing FSA Options and Things to Know About the FSA.

Note: If you are enrolled in an HSA medical plan, you cannot have “double coverage” for medical and prescription drug expenses by having both an HSA and a standard FSA. You can, however, use the Limited Purpose FSA (LPFSA) for dental and vision expenses.

FSA

The standard FSA can be used to pay for eligible medical, prescription drug, dental, and vision expenses not covered by your insurance.*

*HSA plan members are not eligible for the standard FSA.

Your Title Goes Here

How it Works

How much can I contribute?

  • $100 minimum
  • $3,300 maximum

How do I access and use the FSA money?

You will receive a debit card to use for eligible expenses. Funds are immediately available.

Who can use the FSA money?

If you are enrolled in the Basic PPO Plan or Enhanced PPO Plan, or even if you don’t elect Michaels medical coverage, you can use the money to pay for eligible medical, prescription drug, dental, and vision expenses that your health care plans don’t cover.

This applies to:

  • Yourself
  • Any dependents you claim on your federal tax return
  • Your children under age 26, even if they are not covered by a Michaels benefit plan

Under IRS rules, expenses for domestic partners cannot be paid from an FSA.

Dates & Deadlines

  • You can incur expenses until Dec. 31 of the plan year.
  • You have until March 31 after the plan year ends to submit your reimbursement claims for expenses.
Standard FSA Guide

Limited Purpose FSA

The Limited Purpose FSA (LPFSA) can be used to pay for dental and vision expenses, but cannot be used to pay for other health care expenses.

Your Title Goes Here

How it Works

How much can I contribute?

  • $100 minimum
  • $3,300 maximum

How do I access and use the LPFSA money?

You will receive a debit card to use for eligible expenses. Funds are immediately available.

Who can use the LPFSA money?

If you are enrolled in the Michaels Choice HSA medical plan, you may use the Limited Purpose FSA to pay for dental and vision expenses only, and use your HSA to pay for eligible medical and prescription drug expenses.

You can use the money to pay for eligible dental and vision care expenses that your dental and vision plans don’t cover.

This applies to:

  • Yourself
  • Any dependents you claim on your federal tax return
  • Your children under age 26, even if they are not covered by a Michaels benefit plan

Under IRS rules, expenses for domestic partners cannot be paid from an LPFSA.

Dates & Deadlines

  • You can incur expenses until Dec. 31 of the plan year.
  • You have until March 31 after the plan year ends to submit your reimbursement claims for expenses.
LPFSA Guide

Dependent Care FSA

The Dependent Care FSA (DCFSA) can be used to pay for expenses for your dependents, such as day care, before and after school care, and summer day camp.

Your Title Goes Here

How it Works

How much can I contribute?

  • $100 minimum
  • $5,000 maximum (or $2,500 maximum if married but filing separately from your spouse)

How do I access and use the DCFSA money?

You submit claims for reimbursements. Funds are available after contributions to the account have been made.

How can I use the DCFSA money?

You can use the DCFSA to get reimbursed for dependent care expenses incurred, allowing you and your spouse to work.

This includes:

  • Nursery schools
  • Licensed day care centers (including adult day care facilities and centers for disabled dependents)
  • In-home day care providers
  • Before- and after-school care (if not already included in tuition)
  • Summer day camp, but not overnight camp

Who can use the money?

You can use the money to pay for eligible dependent care expenses for:

  • Children under age 13 you claim on your federal tax return as dependents (or for whom you are the custodial parent if divorced, regardless of who claims the tax exemption).
  • A spouse or dependent who is physically or mentally incapable of self-care and lives in your home for more than half the year.

Under IRS rules, expenses for domestic partners cannot be paid from a DCFSA.

Dates & Deadlines

  • You lose any remaining funds in your account as of Dec. 31 of the plan year.
  • You have until March 31 after the plan year ends to submit your reimbursement claims for expenses.
DCFSA Guide

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eValuate

Pick the Plan that's Best for You
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eValuate Health Plan Selector

eValuate is a free resource to help full-time Team Members choose the best medical plan for their needs.

Let the eValuate Health Plan Selector help you decide which medical plan makes the most financial sense for you and your family. Just answer a few questions and eValuate will calculate the tax savings you can expect on premiums and Health Care FSA contributions for each medical plan. Then you’ll get a summary highlighting which option works best for you.

eValuate doesn’t store any of your personal information, or share it with Michaels or anyone else – it’s totally private and confidential.

You can access and utilize eValuate 24/7 from any smartphone, tablet, or computer.

Open the eValuate Health Plan Selector

Choosing & Using Your HSA or HRA

Pay for Eligible Health Care Expenses Tax-Free
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Choosing an HSA or HRA

To help you pay for eligible in-network health care expenses, Michaels contributes to either a Health Savings Account (HSA) if you enroll in the Select HSA plan, or a Health Reimbursement Account (HRA) if you enroll in the Kaiser HRA plan.

The two types of accounts work differently: follow the links for a closer look at each account in order to help you choose.

Health Savings Account (HSA)

Health Reimbursement Account (HRA)