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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 and Dependent Care FSA.

  • Health Care FSA

    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 Publication 502.

    Contributions

    The maximum amount you may contribute in 2020 is $2,700 (minimum election is $100) and rollover eligibility rules do apply. The maximum amount that you may contribute in 2019 is $2,650. At the end of the year, employees are eligible to roll over a maximum of $500 of unused funds to the next year, if during Open Enrollment, an election to contribute to a Health Care or Limited Purpose FSA is made (minimum election is $100).

    During Open Enrollment, any employee who does not elect to contribute to a Health Care or Limited Purpose FSA for 2020 will not be eligible for funds to roll over. In this case, unused funds from 2019 will be forfeited.

  • Limited Purpose FSA

    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 Publication 502.

    Contributions

    The maximum amount you may contribute in 2020 is $2,700 (minimum election is $100) and rollover eligibility rules do apply. The maximum amount that you may contribute in 2019 is $2,650. At the end of the year, employees are eligible to roll over a maximum of $500 of unused funds to the next year, if during Open Enrollment, an election to contribute to a Health Care or Limited Purpose FSA is made (minimum election is $100).

    During Open Enrollment, any employee who does not elect to contribute to a Health Care or Limited Purpose FSA for 2020 will not be eligible for funds to roll over. In this case, unused funds from 2019 will be forfeited.

  • Dependent Care FSA

    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 Publication 503.

    Contributions

    The maximum amount you may contribute in 2019 and 2020 is $5,000. At the end of the year, any unused funds will be forfeited.

  • Who Manages My FSA?

    Excellus Members and Those Who Do Not Have Health Coverage Through the University

    If you selected Excellus as your health care administrator or chose not to enroll in health coverage through the University of Rochester, Lifetime Benefit Solutions will manage your FSA. These instructions will guide you through the process of setting up an online account.

    Address Changes: If your address changes, be sure to update it within HRMS; Lifetime Benefit Solutions will be notified and your account will be automatically updated.

    Aetna Members

    If you selected Aetna as your health care administrator, PayFlex will manage your FSA. Set up an online account and download the PayFlex mobile app for quick and easy FSA management.

    Address Changes: If your address changes, be sure to update it within HRMS and the change will be sent over to Payflex on your behalf.

  • Using My FSA

    Automatic Reimbursements

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

    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 or PayFlex 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.