How the FSA Health Care Account works:
You designate an amount to be deducted, pre-tax, in equal installments from your paycheck. You cannot change your contribution amount or suspend your payroll deductions during the year unless you have a qualified change in family status, as defined by the Internal Revenue Service. You will receive a Health Care Card that will draw from these funds (please click here for detailed information on how to use your Health Care Card).
The following groups of regular, full-time employees are eligible to participate in the Health Care Account.
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Non-union administrative and staff employees
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Non-union faculty members
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Employees represented by AFSCME
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Employees represented by Local 835 and 835A
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Law faculty and employees
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Nurses represented by TUHNA
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TAUP faculty and employees
Health care expenses can include those incurred by yourself, your spouse, domestic partner or any dependent that you claim on your income tax return.
Some examples of qualified expenses are as follows:
- Deductibles and co-payments for healthcare plans (medical, dental and vision)
- Co-payments for prescription drugs
- Over the counter drugs that treat a medical condition (allergy medicine, antacid, cold relief and pain relievers)
- Amounts over usual and customary plan limits
- Purchase of prescription sunglasses, contact lenses and cleaning solutions
The maximum annual contribution qualifying for pre-tax reimbursement is $5,000 per employee.
Check out plan details, easy-to-use calculators and enrollment at www.wageworks.com. Click on: “First Time User? Register Now,” and follow the simple steps.
Current Employees: Open enrollment is during the months of November and December for the following calendar year. You must re-enroll each year to continue or change your participation in an FSA account.
New Hires: You have 31 days from the date of your Benefits Orientation to enroll on-line for the current calendar year.