Can I put the Buyback amount in the flexible spending account for medical expenses?
No. The IRS requires that deposits into a flexible spending program be made directly from your paycheck, therefore you will receive the Buyback as a separate payment and it cannot be directly deposited into your flexible spending account. You can, however, enroll in the flexible spending account program and have an equivalent amount deducted from your pay check. Enrollment forms can be obtained from Human Resources or your department’s Human Resources Representative during the open enrollment period.
