Available to full-time permanent employees, including temporary faculty employed for a one-academic year contract, and permanent part-time employees, including temporary faculty employed for a one-academic year contract, who work 50% time. Flexible spending accounts (FSAs) governed by the IRS Code, allow employees to have income withheld from their paychecks before taxes for eventual reimbursement of certain medical and dependent care expenses.
ADP provides the administration for the Flexible Spending Account program. They may be contacted as follows:
Toll Free Number: 1-888-557-3156
Mon-Fri, 8 a.m. - 8 p.m. ET
You decide how much to contribute and then enjoy immediate access and tax-free savings (on average 30% or more), using the funds as you see fit for planned or unplanned expenses.
The maximum annual contribution amount that can be made to a medical reimbursement account is $2,500.
The maximum annual contribution that can be made to a Dependent Care Reimbursement Account is $5,000.
Effective with the 2014 plan year, FSA participants will have the ability to carryover up to $500 of unspent healthcare FSA monies into the following plan year (2015 calendar year). For more information click here.