Health Care Account
Dependent Day Care Account
The University offers two types of Flexible Spending Accounts: a Health Care Account and a Dependent Day Care Account.
Health Care Account
The Health Care Account allows you to pay for related expenses using pre-tax dollars. For the Health Care Account, this includes many health care expenses not covered by your medical and dental plans, such as payments you make for the diagnosis, cure, treatment or prevention of disease, as well as medicines and drugs that require a prescription.
Upon enrollment, you elect an amount to be withheld from your paycheck before federal, state, and Social Security taxes are withheld. That amount is deducted from your pay in equal installments throughout the upcoming calendar year if you enroll during the open enrollment period in the fall or throughout the remainder of the calendar year if you enroll mid year.
Dependent Day Care Account
The Dependent Care Account allows you to pay for charges that you incur for the care of your dependents so that you or, if married, you and your spouse/same-sex domestic partner may work. This includes expenses for eligible dependent children (up to age 13) and may apply to a spouse or parent who resides with you and is physically or mentally incapable of self care. Care for eligible dependents may be provided inside your home or at a day care center or family day care.
Upon enrollment, you elect an amount to be withheld from your paycheck before federal, state, and Social Security taxes are withheld. That amount is deducted from your pay in equal installments throughout the upcoming calendar year if you enroll during the open enrollment period in the fall or throughout the remainder of the calendar year if you enroll mid year.
Submitting Expenses
When you incur an eligible expense, you submit a claim form to Employee Benefits. You are then reimbursed with tax-free dollars from your account, typically within two weeks.
If you enrolled in a Flexible Spending Account for 2007, you may file claims for expenses incurred beginning January 1, 2007, or your effective date if you enroll mid year, and ending March 15, 2008.
If you enrolled in a Flexible Spending Account for 2008, you may file claims for expenses incurred beginning January 1, 2008, or your effective date if you enroll mid year, and ending March 15, 2009.
To continue your participation in the University's Flexible Spending Accounts, you must re-enroll each fall during the open enrollment period. Note that you may not carry over your account balance from one year to the next. The IRS requires that if you do not use your full balance for expenses incurred between your effective date and March 15 of the following year, you lose the unused portion.
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