Available to full-time, permanent employees, including temporary faculty members employed for a one-academic-year contract, and permanent part-time employees, including temporary faculty members employed for a one-academic year-contract who work 50 percent of the time.
Effective January 1, 2015, ADP will replace WageWorks as the administrator of the State System's Flexible Spending Account Program.
FSA Carry Over Information - Plan Year 2014 to Plan Year 2015
A Flexible Spending Account (FSA) is an account you set up to pre-fund your anticipated, eligible medical services, medical supplies, and dependent care expenses that are normally not covered by your insurance. You decide how much to contribute annually to your FSA, and the amount is deducted in small, equal amounts during the plan year. FSA funds are deducted before federal and state taxes are calculated on your paycheck, which results in less taxable income.
Medical Reimbursement FSA: This account is used to pay for eligible medical expenses which aren't covered by your insurance or other plan. These expenses can be incurred by yourself or your eligible dependents. Once you sign up for a Medical Reimbursement FSA and decide how much to contribute, the maximum annual amount of reimbursement for eligible health care expenses will be available throughout your period of coverage. The maximum annual contribution amount that can be made to a medical reimbursement account is $2,500. Effective with the 2014 plan year, FSA participants will have the ability to carryover up to $500 of unspent healthcare FSA monies to the following plan year, and will have the entire year to incur and submit eligible expenses against those carryover dollars.
Dependent Care Reimbursement FSA: This account allows you to pay for eligible dependent care expenses such as after-school care, babysitting fees, day care services, nursery, and preschool. Eligible dependents include your qualifying child under the age of 13, and/or your spouse or a qualifying child or relative who is physically or mentally incapable of self care. Once you sign up for a Dependent Care Reimbursement FSA and decide how much to contribute, the funds available to you depend on the actual funds in your account. Unlike a Medical Reimbursement FSA, the entire maximum annual amount is not available during the plan year, but rather after your payroll deductions are received. The maximum annual contribution amount that can be made to a dependent care reimbursement account depends on your tax filing status. Account balances not used are forfeited.
The Flexible Spending Account Open Enrollment period for the 2015 plan year runs from October 20 through November 7, 2014. Re-enrollment is required each year during open enrollment for continued participation in the program. Information on Open Enrollment.
Information on the Flexible Spending Account Program as well as forms.
If you have questions, please contact ADP Customer Service (888) 557-3156, visit the ADP website, or the call the Office of Human Resources at 724-357-2431.
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