FLEXIBLE SPENDING ACCOUNTS (FSA)
FSA Open Enrollment, November 3 - 21, 2014
Online enrollment in a Flexible Spending Account (FSA) is easy!
- You can enroll in a Health Care FSA and/or Dependent (Day) Care FSA for calendar year 2015 using our FSA Enrollment Form.
- Enter your annual contribution amount for the Health Care FSA and/or Dependent Care FSA. Your "per pay" deduction(s) will automatically be displayed.
- If you already have an FSA Debit Card (“Benny Card”) for the current plan year, and choose “Yes” on the Debit Card option during this open enrollment, the amount that you elect for the Health Care FSA for the new plan year will be loaded on your current Benny Card. A new Benny Card will not be issued to you.
- If you previously elected an FSA Debit Card, but no longer wish to use the Benny Card, please select “No” as your Debit Card option. Your current Benny Card will not be reloaded for the new plan year.
- After you have entered your contribution amount(s), you must select “Yes” or “No” for Debit Card option, then "submit" your election.
- Please note that there is a $5.00 charge for additional card requests after this open enrollment period or if requesting more than two cards at this time.
- A confirmation page will be displayed. Please print a copy of the confirmation page for your records.
- If you change your mind before the end of this open enrollment period, you may access the Enrollment Form and submit a new election. Note: Your most recent entry will be taken as your election for the year.
Note: In compliance with the Patient Protection and Affordable Care Act, $2,550 is the maximum allowable Healthcare FSA contribution for 2015.
Please keep in mind...
The University's plan year for FSAs is January through December. Once your enrollment in the account(s) is finalized, you cannot change or stop your contribution for the remainder of the plan year, unless you have a qualifying family status change (e.g., marriage, divorce, birth/adoption of a child, etc.). If you have a change in status, you have only 30 days after the date of the qualifying event to change your coverage by submitting a Family Status Change form: http://www.udel.edu/00422. Furthermore, the requested change must be consistent with the event.
The 2015 Flexible Spending Accounts Plan includes a 2½ month grace period (Jan. 1 – March 15, 2016). This means that a participant who incurs expenses during the grace period may be reimbursed from contributions made in the preceding year (2015). This provides additional time to take advantage of FSA contributions before the amounts are forfeited under the "use-it-or-lose-it" rule. If, however, you do not spend all your 2015 FSA money for expenses you incur before the end of the grace period (March 15, 2016), you will forfeit any unused balance.
Please see our website for additional information. The Human Resources staff is available to help with any questions you have about Flexible Spending Accounts and enrollment. You may reach a benefits representative by e-mailing email@example.com.