12:14 p.m., Nov. 23, 2009----The University of Delaware Office of Human Resources has issued a reminder that the enrollment period for 2010 Flexible Spending Accounts (FSAs) ends Tuesday, Nov. 24, for eligible UD employees.

THIS STORY

E-mail

Print

Twitter

The maximum annual amount that can be contributed remains at $3,000 per employee for the Health Care Account and $5,000 per family for the Dependent Day Care Account.

FSAs are voluntary accounts through which employees can set aside pretax dollars to cover out-of-pocket health care and day care expenses.

Visit the Office of Human Resources Web site for details about FSAs and select FSA Enrollment Form to enroll.

Please keep the following facts in mind when deciding how much to set aside in your FSA:

• FSAs do not automatically continue from year to year. You must re-enroll each year to continue your participation.

• The enrollment period for the University's medical, dental, life and disability benefits is scheduled for May 3-21, 2010. If you anticipate changing your medical plan coverage, consider how that future change may affect your current decision on how much to contribute to a Health Care FSA.

• FSAs are effective tools for saving taxes on out-of-pocket health care and day care expenses. However, it is important that you are somewhat conservative when choosing the amount of your FSA contribution; you will lose any balance not used during the plan year and subsequent grace period.

• The plan year for FSAs is January through December. Once your enrollment is finalized, you cannot change or stop your contribution for the remainder of the calendar year unless you have a qualified family status change (e.g., marriage, divorce, birth/adoption of a child).

The Human Resources staff is available to help with any questions you have about FSA enrollment. You can reach a benefits representative by calling (302) 831-2171 or e-mailing [ben-serv@udel.edu].