Enrollment period for 2019 Flex Spending Account

The open enrollment period for 2019 Flex Spending Account is October 9, 2018 to November 9, 2018.  The Flex Spending Account (FSA) includes the Dependent Care Advantage Account (DCAAccount) and the HealthCare Spending Account (HCSAccount).

State employees may contribute anywhere from $100 to $2,650 per year on a pre-tax basis through payroll deduction to an HCSAccount for eligible health care expenses that are not reimbursed by insurance, and up to $5,000 per year to a DCAAccount for elder care, disabled dependent care, or child care expenses.  The FSA contributions are deducted biweekly from the employee’s gross pay and deposited to the appropriate account.  Any money directed to a FSA will reduce the employee’s reportable federal, state and social security taxes.  After eligible services have been rendered, the employee submits a claim form for reimbursement.

If you wish to take advantage of this benefit, you must register online at www.flexspend.ny.gov or by calling the FSA Hotline at 1-800-358-7202.  Participants who are currently enrolled must re-enroll if they wish to continue their benefits in 2019 and will receive re-enrollment instructions directly from Fringe Benefits Management Company, the plan administrator for the Flex Spending Account.

The Employer Contribution rates for the DCAAccount are available to employees in the following bargaining units: CSEA, PEF, UUP, GSEU, and Management Confidential.   The employer contribution will provide up to $800 for employees who enroll in the DCAAccount.  The employer contribution is based on salary.  The 2019 Employer Contribution rates are:

If the Employees Salary is:                                          The Employer Contribution is:

Under 30,000                                                                                                     $800

30,001-40,000                                                                                                    $700

40,001-50,000                                                                                                    $600

50,001-60,000                                                                                                    $500

60,001-70,000                                                                                                    $400

Over 70,000                                                                                                        $300      

 

If you have any questions, please feel free to contact the Office of Human Resources at Ext. 2230 or hr@oswego.edu.