Page 10 - 2018 USI Enrollment
P. 10
Eligible Expenses Flexible Spending Account
Healthcare FSA (FSA)
X Doctor’s visit copays
What is a Flexible Spending Account?
X Prescription drug copays
This voluntary beneit is available to regular (non-temporary) full-time
X Medical and dental deductibles
employees. The university offers a lexible spending account (FSA)
X Over-the-counter medications through Nyhart which allows you to set aside pre-tax dollars from your
(with a written prescription) paycheck to pay for qualiied medical or dependent care expenses you
X Hearing aids would normally pay for out of your pocket with after-tax dollars.
X Eyeglasses/contacts Healthcare FSA
Dependent Care FSA
X Cost of child or adult day care* The healthcare FSA helps you pay for certain IRS-eligible expenses
with pre-tax dollars. The 2018 maximum contribution has not yet been
X Nursery school established by the IRS, but is expected to be no less than $2,600.
X Preschool (excluding
kindergarten) Funds you elect to contribute to the healthcare FSA are available in full
* Eligible dependent: tax dependent child on the irst day of the plan year. For example, if you elect to contribute
under age 13; tax dependent spouse, $1,000, the full election is available to you on day one. You’ll continue to
parent, or child unable to care for
themselves pay for the election pre-tax from your paycheck throughout the plan year.
Dependent Care FSA
The dependent care FSA lets you set aside pre-tax dollars to use toward
qualiied dependent care. The maximum amount you may contribute
to the dependent care FSA is $5,000 (or $2,500 if married and iling
separately) per calendar year. Funds you contribute to the dependent care
FSA are available as you accrue them during the plan year.
Use It or Lose It
Carefully consider your FSA contribution amounts for 2018. At the end
of the year or grace period, you lose any money left over in your FSA.
There is a 2 ½ month grace period at the end of each year.
Please note you cannot contribute to a healthcare FSA if you re
contributing to an HSA.
10 2018 Benefits Enrollment
Healthcare FSA (FSA)
X Doctor’s visit copays
What is a Flexible Spending Account?
X Prescription drug copays
This voluntary beneit is available to regular (non-temporary) full-time
X Medical and dental deductibles
employees. The university offers a lexible spending account (FSA)
X Over-the-counter medications through Nyhart which allows you to set aside pre-tax dollars from your
(with a written prescription) paycheck to pay for qualiied medical or dependent care expenses you
X Hearing aids would normally pay for out of your pocket with after-tax dollars.
X Eyeglasses/contacts Healthcare FSA
Dependent Care FSA
X Cost of child or adult day care* The healthcare FSA helps you pay for certain IRS-eligible expenses
with pre-tax dollars. The 2018 maximum contribution has not yet been
X Nursery school established by the IRS, but is expected to be no less than $2,600.
X Preschool (excluding
kindergarten) Funds you elect to contribute to the healthcare FSA are available in full
* Eligible dependent: tax dependent child on the irst day of the plan year. For example, if you elect to contribute
under age 13; tax dependent spouse, $1,000, the full election is available to you on day one. You’ll continue to
parent, or child unable to care for
themselves pay for the election pre-tax from your paycheck throughout the plan year.
Dependent Care FSA
The dependent care FSA lets you set aside pre-tax dollars to use toward
qualiied dependent care. The maximum amount you may contribute
to the dependent care FSA is $5,000 (or $2,500 if married and iling
separately) per calendar year. Funds you contribute to the dependent care
FSA are available as you accrue them during the plan year.
Use It or Lose It
Carefully consider your FSA contribution amounts for 2018. At the end
of the year or grace period, you lose any money left over in your FSA.
There is a 2 ½ month grace period at the end of each year.
Please note you cannot contribute to a healthcare FSA if you re
contributing to an HSA.
10 2018 Benefits Enrollment
