Who is eligible to participate in a Flexible Spending Account (FSA)?
The Flexible Spending Accounts (Dependent Care Spending Account and Health Care Spending Account) are provided as options for all eligible full-time (90%-100%) and part-time (50%-89.9%) executive management, faculty, academic and support staff. Employees have 60 days from the day of initial appointment/hiring or eligibility to sign-up for Flexible Spending Accounts (FSA). Employees that do not enroll by the enrollment deadline will not be eligible for the tax savings opportunities until the next FSA open enrollment unless they have a qualifying life event. The program is effective the first day of the month following enrollment or changes. For example, an employee is hired 7/15 and enrolls in the Dependent Care Spending Account the same day. The program goes into effect 8/1. Only eligible expenses occurring 8/1 or after may be submitted for reimbursement.
The Flexible Spending Accounts (Dependent Care Spending Account and Health Care Spending Account) are provided as options for all eligible full-time (90%-100%) and part-time (50%-89.9%) executive management, faculty, academic and support staff. Employees have 60 days from the day of initial appointment/hiring or eligibility to sign-up for Flexible Spending Accounts (FSA). Employees that do not enroll by the enrollment deadline will not be eligible for the tax savings opportunities until the next FSA open enrollment unless they have a qualifying life event.
