The next opportunity to participate in the FSA is for the plan year beginning July 1,2018 through June 30, 2019.For those of you looking to contribute FSA funds to cover your insurance deductible and co-insurance, please keep in mind that this FSA plan year covers the first six months of next calendar year.Beginning 1/1/19, you will need to re-satisfy your medical deductible/out-of-pocket maximum.
Download the FSA Election Form. The deadline for turning in this paperwork to Human Resources is June 1, 2018.
Planning for your Deduction
When thinking about how much to put in an FSA next year, you will want to consider the following things:
- How much do I (or my family) usually use services that require health insurance: doctor appointments, prescriptions, etc. This is different than how it worked in the past, you do not pay a "copay", instead you pay the doctor bill which are typically $100+ per visit (except well-visits, which are now free under the new plans)
- Keep in mind that even if you typically use $0 during the year (meaning you only attend 1 "well-visit" to your doctor) so you decide that you don't need an FSA, you are exposing yourself to potentially paying up to $800 out of pocket if you have an emergency/accident.
- There is a $500 one-time roll over of unused FSA funds if you don't end up using everything you set aside.
For more details on the FSA and dependent care accounts, visit the FSA/DCA Frequently Asked Questions page.
Flexible Spending Account (FSA) Basics
Health Reimbursement Arrangement (HRA): These are the funds paid for by the district to help cover out-of-pocket medical expenses once you have met your HRA deductible
Flexible Spending Account (FSA): These funds are paid for by the employee through payroll deduction (if you signed up for one). FSA funds will automatically be used first to cover out-of-pocket expenses until the HRA deductible is met.
What an FSA Does
Eligible employees may participate in a flexible spending account (FSA) benefit program for unreimbursed healthcare and child care expenses offered by the District through IRS Section 125 Regulation “Cafeteria Plan”, as allowed by law.
The plan year for the FSA runs fron July 1 through June 30. The open enrollment period is May 1 - May 30 for a July 1 effective date.
If we do not receive your completed forms as outlined below during the open enrollment, you will not qualify for participation in the flexible spending account plan for the upcoming plan year beginning July through June 30.
Carryover of Funds
The plan will allow a carryover of up to $500. This means employees can carryover up to $500 in unused FSA funds one plan year to the next.
Carryover funds are only available for one plan year. Any remaining carryover funds at the end of the plan year shall be forfeited. The Plan also provides for a 45-day period to submit claims after the end of the plan year (e.g., employees will have until August 14th to submit claims for the plan year ending June 30).
In order to elect to participate in the flexible spending account, employees must complete and submit an FSA Election Form to Human Resources by the deadline above (or within 30 days of hire for new hires). FSA payroll deductions will be taken on the following frequency depending on group:
- Teachers: 22 paychecks
- 12-Month Employees: 26 paychecks
- School-Year Support: 20 paychecks
Maximum Annual Contribution:
The maximum annual contribution for all Support Staff is $800 for medical FSA. The maximum annual medical FSA contribution for teachers, administrators and other exempt level professionals is $2,500.
However, since the IRS caps the calendar year contribution at $2,600, if you contributed more than $1,350 during the six month period of 1/1/18 through 6/30/18 your contribution level may be further limited.
If you have questions related to the reimbursement process or claims, please email DataPath Administrative Services at email@example.com, or call Toll-Free 866-207-3028. You can also fax DataPath Toll-Free at 866-207-3028.