Enrollment for 2002 Flexible Spending Accounts

This year’s enrollment period for the 2002 Flexible Spending Accounts (FSAs) is Nov. 26 through Dec. 7. To enroll in a Health Care and/or Dependent Day Care Account for Jan. 1 through Dec. 31, please visit the web site at [http://www.udel.edu/hr/] for further details. Enrollment must be done through a web form rather than by phone.

FSAs are voluntary accounts through which employees can set aside pre-tax dollars to cover out-of-pocket health care and day care expenses. For detailed information about FSAs, see [http://www.udel.edu/Benefits/FSA.HTML].

o The maximum annual amount you can contribute is $1,500 for the Health Care Account and $5,000 for the Dependent Day Care Account.

o The enrollment period for the University's insurance benefits, i.e., medical, dental, life and disability, is scheduled for May 1-17. If you anticipate changing your medical plan coverage in May, consider how that future change may affect your current decision on how much to contribute to a 2002 Health Care FSA.

o Even if you have participated in an FSA account in the past, you must reenroll every year. FSAs do not automatically continue from year to year.

o It is important that you are conservative when choosing the amount of your FSA contribution. IRS regulations require that if you do not spend all your FSA money for expenses you incur during the plan year, you must forfeit any unused balance.

The Human Resources staff is available to help with any questions about Flexible Spending Accounts and enrollment. Employees can speak with a benefits representative by calling 831-2913 or by sending e-mail to [ben-serv@udel.edu].

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