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December 2010 NEWSLETTER

 

Annual FSA Open Enrollment Registration on Dec. 7 and 8

Annual FSA Open Enrollment Registration on Dec. 7 and 8

All full-time faculty, administrators, professional personnel and staff are invited to attend the Flexible Spending Account (FSA) open enrollment sessions next Tuesday, Dec. 7 from 1:00 - 4:00 p.m. and Wednesday, Dec. 8 from 10:00 a.m. - 2:00 p.m. in the Charter Room in Memorial Hall. Come put your pre-tax dollars to work with a Flexible Spending Account.

Below is more information on the health care spending and dependent care spending accounts:

Health Care Spending Account (HCSA)
You may contribute up to $5,000 per year to the HCSA for health, dental or vision care related expenses not normally covered by your benefits plans.

Examples:

  • Health, dental and vision office visits,
    prescription drugs and co-pays
  • Health, dental and vision deductibles
    and coinsurance amounts
  • Can only be applied to prescription meds
  • LASIK eye surgery

Dependent Care Spending Accounts (DCSA)

You may contribute up to $5,000 per year to the DCSA. The DCSA will allow you to pay for day care expenses for a child or elderly parent, such as:

  • Adult or child day care
  • Summer day camp
  • Before and after school programs

Please Note:

For employees who are currently enrolled in either of the FSA accounts for the plan year 2010, any amounts not spent by March 15, 2011, will be forfeited, as mandated by the IRS. The IRS does allow you to submit receipts for calendar year 2010 expenditures through March 31, 2011.

 

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