| NEWS ALERT!! IRS confirms recurring claims for dependent care and orthodontia, and dependent care contracts on file will NO longer be compliant with our FSA plans. For more information, click here. |
Benefit
Flexible Spending Accounts make it easy for you to set aside a portion of your pretax salary and use it to pay for eligible prescription, medical, and daycare expenses. You decide how much pre-tax money to elect to place into the BESTflex plan using your enrollment form.
- The Health Care Flexible Spending Account allows you to pay for eligible out-of-pocket medical, vision, dental, and over-the-counter drug expenses that are not covered by your insurance.
- The Dependent Care Flexible Spending Account can be used for certified daycare expenses incurred for the care of your child(ren) or other dependents.
You can view the Employee Benefits Corporation, our FSA administrator, website for more specifics on eligible expenses.
Eligibility
All part-time regular employees working over 1,000 per calendar year, full-time regular, and full-time temporary employees with a one year appointment.
Opportunities to enroll: During your first 30 days of employment, qualifying event, or election during Annual Enrollment.
Enrollment
Subject to eligibility. Effective date will be 1st of the month following 30 days of employment. For example, if you are hired July 15th, your effective date to participate in a Flexible Spending Account will be September 1st.
Cost
You elect how much pretax money to put aside. You can elect up to $5,000 in each account, per IRS regulations.
Summary Plan Description
Do you want to know more specifics on our Flexible Spending Accounts? Click here.
Useful Forms and Information Sheets
- Reimbursement Form
- Flexible Spending Account Direct Deposit Form
- Qualifying Event Form
- Interactive Participant Authorization Form
- Overview
- Eligible Prescription Drugs
- Grace Period
- Frequently Asked Questions
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The detail of the Flexible Spending Account plan is contained in the official Plan document. This site is meant to only cover highlights of the Flexible Spending Account benefit. It does not contain all of the details that are included in the Summary Plan Description (SPD) (as described by the Employee Retirement Income Security Act). If there is ever a question about this plan, or if there is a conflict between the information on this site and the formal language of the Plan documents, the formal wording in the Plan documents will govern. Please note that the benefits described on this site may be changed at any time and do not represent a contractual obligation on the part of Marquette University.
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