FSA-02

Benefits Enrollment Has Ended

The period for enrolling in 2019 benefits has ended. If you did not make changes to your benefits, you will automatically be enrolled in the same plans as the previous year. You may view your benefits by using EMPLOYEE SELF-SERVICE.

Flexible Spending Accounts (FSAs)

The University of Oklahoma Health Sciences Center offers two types of Flexible Spending Accounts (FSA): a Healthcare Account and a Dependent Daycare Account. You can see a summary of each FSA below. These accounts will continue to be managed by ConnectYourCare. If you are a currently enrolled in an FSA and want to continue your FSA for the upcoming plan year, you must re-enroll in each of them each year during annual benefits enrollment.  Reminder: Any money left at the end of the FSA period will be forfeited in accordance with federal law. 

Flexible Spending Accounts: Two Types

HEALTHCARE FSA

  • Allocation Amounts: You may allocate a maximum of $2,600 to a Healthcare FSA per year. If your spouse's employer offers FSAs, you and your spouse may both allocate the maximum $2,650 amount to each of your healthcare FSAs.

  • Reimbursements: As you incur eligible healthcare costs, you may submit a claim for those expenses to get reimbursed with tax-free dollars from your FSA account

  • The FSA Debit Card: The healthcare FSA a debit card that electronically accesses your healthcare account to pay for eligible expenses when you check out at a store or medical provider. This provides the ease of immediate payment of your healthcare expenses and do not require claims because the expense is approved at the point of sale.

  • Eligible items: These expenses include deductibles, co-pays, coinsurance and certain over-the-counter (OTC) expenses. You can view all eligible expenses for healthcare on the ConnectYourCare website.

  • Deadlines: You may incur healthcare FSA expenses until March 15th of the following year, and you have until April 15 to submit eligible claims.  

  • Remember: Any money left at the end of the FSA period will be forfeited in accordance with federal law.

    DEPENDENT DAYCARE FSA

    • Allocation Amounts: An employee can allocate a maximum of $5,000 to their dependent daycare FSA. Please note that this is a household maximum. 

    • Reimbursements: You can receive money back for qualifying childcare and other expenses you incur to allow you and, if married, your spouse to work. 

    • Submitting Claims: The Dependent Daycare FSA does not include a debit card, so all reimbursements must be filed as claims with ConnectYourCare. Be sure to save all documentation and receipts of eligible expenses. 

    • Eligible items: These include licensed day care facilities, before-and-after school programs, nursery school or preschool, summer day camp and even adult daycare.

    • Deadlines: You may incur dependent care expenses until December 31st of the 2018 plan year. You have until April15th of the following year to submit any outstanding clams from 2018. 

    Remember: Any money left at the end of the FSA period will be forfeited in accordance with federal law.