FLEXIBLE SPENDING ACCOUNTS (FSA)

Flexible Spending Accounts allow you to put aside a portion of your pay to reimburse yourself on a pre-tax basis for healthcare and/or dependent/elder care expenses.  If an employee wishes to take advantage of a FSA each year, they must renew the account during the open enrollment period.

Employees can enroll in both Flexible Spending Accounts: health and/or dependent child/elder care. Dollars deposited in these accounts are kept separate and cannot be transferred from one account to the other. Both accounts are administered by 健康Equity/Wageworks.

 

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This account can be used to pay eligible medical, 愿景, and dental expenses including deductibles and co-payments not covered under any other plan. Additional highlights of the plan are listed below:

• You may use your FSA money on yourself or your federally eligible dependents, regardless if you or they are participating in any other University benefit plan.
• 重要的最后期限:有一个。使用它或失去它” rule, funds must be used during the applicable plan year timeframe or they 是被没收的.
• Under government regulations, unused dollars after the deadlines will be forfeited.
• For a list of eligible expenses, please visit www.wageworks.com
• Once an FSA election has been made it cannot be changed. The employee is committed to that decision for the plan year. The only exception is when the employee has a qualifying 状态变化.

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This account is for the purpose of paying for eligible dependent/elder care expenses (such as child or parental care) that enables you to work.

• Pay for dependent care expenses for child(ren) under age 13 or an elderly dependent so that you (and your spouse, if you are married) can work, look for work or go to school full time.
• 重要的最后期限: There is a “使用它或失去它” rule, therefore funds not used during the current tax year through December 31^st  是被没收的.
• Under government regulations, unused dollars after the deadlines will be forfeited

Dependent care expenses are eligible for reimbursement if they meet the following criteria:

For a full list of eligible expenses, please visit www.wageworks.com

• The annual amount submitted for reimbursement does not exceed the lesser of your income or your spouse’s income
• The expenses are necessary to enable you to work
• Your dependent is under age 13 or is physically or mentally incapable of caring for him/herself
• Your dependent is eligible to be claimed as a dependent on your Federal Income Tax Return
• Your dependent resides in your home for at least eight(8) hours per day
• Your payments are not made to a person you claim as a dependent
• If the services are provided by a dependent care center that provides care for more than six individuals (other than a resident of the facility), the center must comply with all state and local laws

注意: When filing Federal Income Tax Return you will be required to supply the name, address and taxpayer identification number of the dependent care provider.