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Flexible Spending Accounts (FSA)

A Flexible Spending Account (FSA) is a tax-advantaged savings reimbursement account that allows you to set aside money for eligible expenses on a pre-tax basis. There are three kinds of FSAs available to University of Rochester employees:

  • Health Care FSA
  • Limited Purpose FSA
  • Dependent Care FSA

Learn more about each of these options below.

FSA overview

Learn about your FSA plan’s specific eligibility, covered expenses, and contribution limits.

Lifetime Benefit Solutions will be your FSA administrator.

These instructions will guide you through the process of setting up an online account. More details on downloading the using the mobile app can be found here.

Eligibility

You are eligible to contribute to a Health Care FSA if you are a benefit-eligible employee that:

  • Waived health coverage; OR
  • Enrolled in the PPO Plan; OR
  • Enrolled in the HSA-Eligible Plan and are not contributing to an HSA (if you are contributing to an HSA, see Limited Purpose FSA below)
Covered Expenses

You may use your Health Care FSA to reimburse qualified out-of-pocket medical, dental, prescription, or vision expenses. A complete list of qualifying expenses can be found in IRS Publication 502.

The CARES (Coronavirus Aid Relief and Economic Security) Act, passed by Congress, has expanded covered expenses that you may use your FSA on. The act is retroactive as of 1/1/2020. Qualified expenses now include: over-the-counter medicine without needing a doctor’s prescription and all feminine hygiene products.

2022 Contributions

The maximum amount you may contribute in 2022 is $2,750 (minimum election is $100). At the end of the year, employees may be able to roll-over up to $570 of unused Health Care FSA funds. To be eligible for rollover, employees must elect to contribute to a 2023 Health Care or Limited Purpose FSA during Open Enrollment. Employees who do not elect to contribute in 2023 will forfeit leftover 2022 FSA funds.

You will have until April 30, 2023 to submit remaining claims for qualified services in 2022.

2023 Contributions

The maximum amount you may contribute in 2023 is $2,850 (minimum election is $100). At the end of the year, employees may be able to roll-over some eligible funds.  Please refer 2024 Open Enrollment communications for details.

Learn more in this video overview

Eligibility

You are eligible to contribute to a Limited Purpose FSA if you are a benefit-eligible employee that enrolled in the HSA-Eligible Plan and are contributing to an HSA.

Covered Expenses

You may use your Limited Purpose FSA to reimburse qualified out-of-pocket dental and vision expenses. Once the Tier 1 Plan deductible has been met, you may also use your Limited Purpose FSA for qualified medical and prescription expenses. A complete list of qualifying expenses can be found in IRS Publication 502.

The CARES (Coronavirus Aid Relief and Economic Security) Act, passed by Congress, has expanded covered expenses that you may use your FSA on. The act is retroactive as of 1/1/2020. Qualified expenses now include: over-the-counter medicine without needing a doctor’s prescription and all feminine hygiene products.

2022 Contributions

The maximum amount you may contribute in 2022 is $2,750 (minimum election is $100). At the end of the year, employees may be able to roll-over up to $570 of unused Limited Purpose FSA funds. To be eligible for rollover, employees must elect to contribute to a 2023 Limited Purpose or Health Care FSA during Open Enrollment.

You will have until April 30, 2023 to submit remaining claims for qualified services in 2022.

2023 Contributions

The maximum amount you may contribute in 2023 is $2,850 (minimum election is $100). At the end of the year, employees may be able to roll-over some eligible funds.  Please refer 2024 Open Enrollment communications for details.

Learn more in this video overview

Eligibility

You are eligible to contribute to a Dependent Care FSA if you are a benefit-eligible employee that:

  • Has a dependent child under age 13 that is claimed as tax-dependent; OR
  • Has a tax-dependent adult
Covered Expenses

You may use your Dependent Care FSA to reimburse qualified daycare expenses for eligible dependents. A complete list of qualifying expenses can be found in IRS Publication 503.

2022 Contributions

The maximum amount you may contribute in 2022 is $5,000 for individuals or married couples filing jointly, or $2,500 for a married person filing separately.

Employees will have until April 30, 2023 to submit remaining claims for qualified services in 2022.

2023 Contributions

The maximum amount you may contribute in 2023 is $5,000 for individuals or married couples filing jointly, or $2,500 for a married person filing separately.

Learn more in this video overview

Below are changes that have been temporarily made to University’s FSA plans due to the passing of the Consolidated Appropriations Act for 2021.

Health Care/Limited Purpose FSAs

All of your unused Health Care or Limited Purpose FSA account balance from 2021 will be carried over to 2022 for use on eligible expenses for 2022. In order to be eligible for the Health Care or Limited Purpose FSA rollover, you must have elected a Health Care or Limited Purpose FSA account during Open Enrollment for 2022 and have an active account. The deadline to submit Health Care/Limited Purpose 2021 claims is April 30, 2023.

 

Dependent Care FSAs

All unused 2021 Dependent Care FSA funds are eligible to be rolled over into your 2022 Dependent Care FSA account. If you did not elect a Dependent Care FSA account for 2022 during Open Enrollment, you will still receive the full rollover. You are able to continue to receive reimbursement in the 2022 plan year for a non-disabled child who reached age 13 during the 2021 plan year. The maximum reimbursement for the child in the 2022 plan year is limited to the unused balance that was carried over from the 2021 plan year. The deadline to submit Health Care/Limited Purpose 2021 claims is April 30, 2023.

 

Any additional questions regarding FSAs can be directed to Lifetime Benefit Solutions at (800) 327-7130 or lbs.customerservice@lifetimebenefitsolutions.com.

There are a few options for using the savings in your FSA towards qualified medical expenses.

Automatic reimbursements

If you’re enrolled in a University Health Care Plan, you have the option to set up your Health Care or Limited Purpose FSA so that it processes reimbursements automatically when you incur a qualified expense. Set this up using your online account with Lifetime Benefit Solutions.

Manual reimbursements

If you did not enroll in health coverage through the University or you decide not to use the automatic reimbursement feature, you must submit a claim for each qualified expense that you would like to receive reimbursement for. You may either:

  1. Use your Lifetime Benefit Solutions online account to submit claims electronically; OR
  2. Use a paper form to submit claims.
Direct deposit

Use your online account or a paper form to set up direct deposit of reimbursements into your bank account with your vendor.

Lifetime Benefit Solutions direct deposit authorization form
Complete this form if you are setting up a direct deposit account for your FSA account

Lifetime Benefit Solutions FSA reimbursement request form
Complete this form if you are filing a claim for your eligible expense for your Health Care FSA or Limited Purpose FSA

Lifetime Benefit Solutions Dependent Care FSA reimbursement form
Complete this form if you are filing a claim for your eligible expense for your Dependent Care FSA

If you need additional forms, you can contact us or explore our employee benefit forms page.

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