201 Carter Drive, Suite 100
West Chester, PA 19383

Phone: 610.436.2800
Fax: 610.436.3464


  

FLEXIBLE SPENDING OPEN ENROLLMENT
Begins Monday, November 5, 2012 and ends on Friday, November 16, 2012

Summary Information

  1. The FSA open enrollment period for the 2013 plan year will be held November 5th to November 16th, and enrollment must be completed via Employee Self Service (ESS)
  2. Your Period of Coverage dates are: January 1, 2013, through December 31, 2013.
  3. The FSA allows you to set aside money on a tax-free basis for qualified medical and dependent care out-of-pocket expenses
  4. Even if you participated in the Flexible Spending Account in 2012 you will still need to enroll in the plan again for 2013

    2013 Change – The maximum annual election for the Medical Reimbursement FSA has been reduced from $3,500 to $2,500. This change is required under PPACA (healthcare reform).

    Click Here to Access the Flexible Spending Account Brochure

    Click Here to Access the ESS Enrollment Instructions

    A Flexible Spending Account (FSA) is an account you set up to pre-fund your anticipated, eligible medical services, medical supplies
    and dependent care expenses that are normally not covered by your insurance. You can choose from two accounts: Medical
    Reimbursement FSA (also referred to as a Health Care FSA) and Dependent Care Reimbursement FSA (also referred to as a Dependent
    Care FSA).

    Not only are your Medical Reimbursement FSA funds available to you in one lump sum at the beginning of your plan year, but your FSA
    funds are deducted before federal and state taxes are calculated on your paycheck. Dependent Care Reimbursement FSA funds are only
    available as they are deducted from your paycheck.

    With either FSA, you benefit from having less taxable income in each of your paychecks, which means more spendable income to use
    toward your eligible medical and dependent care expenses.

    Once you decide how much to contribute to your Medical Reimbursement and/or Dependent Care Reimbursement FSA, the amount is
    deducted in small, equal amounts from your paychecks during the plan year. (above information retrieved from FSA Brochure.
    For further information please click on the FSA Brochure link above).

    If you have questions please contact WageWorks Customer Service at 1-877-924-3967 www.WageWorks.com or your campus Benefits Office at vgiunta@wcupa.edu

 


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