The DEADLINE TO INCREASE YOUR ANNUAL ELECTION FOR FSA IS NOVEMBER 15, 2017
What does this mean to you?
If you have already submitted your health care flexible spending account enrollment elections for 2018 thought the IVR, you can go back into that same system and re-elect your health care FSA to the new maximum amount up until the end of the day on November 15, 2017. If you elected less than the maximum and are satisfied with that election you do not have to do anything.
Please note that there is a new limit of $2600.00 for the Health Flexible Spending Account for the 2018 plan year. The Dependent Care FSA remains at $5000.00 for 2018.
To calculate your biweekly Health or Dependent Care FSA payroll deduction, please use the appropriate scenario below.
22 pay (9 month) employees: there are 20 biweekly deductions in 2018. Divide total by 20.
26 pay (12 month) employees: there are 24 biweekly deductions in 2018. Divide total by 24.
Please contact the UHR Benefits Office with any questions.