Flexible Spending Account (FSA)

Flexible Spending Account
(Section 125 Reimbursement Program)

Open Enrollment for 2022 is November 19, 2021 - December 09, 2021
Return to Open Enrollment Website

The IRS has announced the contribution limit for health flexible spending accounts (health FSA's) will increase to $2,850.00 in 2021

HSA participants are now eligible to enroll in a Limited Purpose FSA.  See Summary Plan Document for more information

Open Enrollment is a time when new and returning participants must enroll for the next calendar year. If you are unsure if a flexible spending arrangement is for you, please contact Human Resources at (517) 629-0205 or  or try the FSA Calculator Estimator. 

A Flexible Spending Accounts (FSA) allows employees to be reimbursed for medical or dependent care expenses. FSAs are funded through voluntary salary reduction agreements with your employer - Albion College. No employment or federal income taxes are deducted from your contribution.

You may elect salary reduction (pre-tax) for either of the options listed that apply to you: non-insured medical expenses & dependent care expenses. You must use all monies in your account or forfeit them at the end of the year. (Please note, there is a two-and-a-half month grace period to use prior year funds).  You must sign up for this program each year you want to participate.

Claims must be turned in by the deadline date (see chart on right side of page or the Flexible Spending Account Dates g-calendar) and checks will be available at the campus post office (COVID Protocol: checks can be picked up at the Accounting Office) after 10am on the check date listed, unless you have elected to be paid through your banking account on file with the Payroll Office  (see chart on right side of page or the Flexible Spending Account Dates g-calendar). There may be some changes to this schedule and you will be given advance notice of any changes.

Please view the participant guide for participation and reimbursement details.

Forms:

• Summary Plan Documents (Search for FSA Information)
  
• Flex Enrollment Form
• Flex Reimbursement Form Day Care
• Flex Reimbursement Form Medical

Complete the excel version electronically, then print and submit to HR.