Flexible Benefits Plans
This plan permits the University to exclude, from both Federal Income and Social Security taxes, premiums paid by you for group medical insurance, dental insurance and amounts you contribute to a medical and/or dependent care reimbursement account. By enrolling in the Medical Reimbursement Plan or Dependent Care Reimbursement Plan or both plans, you can designate a fixed dollar amount to be set aside annually for dependent care and/or medical expenses. As expenses are incurred, the University reimburses you through your payroll check for those expenses. Employees may enroll when first eligible or during the Flexible Benefit Enrollment period (October 15 - November 30), with an effective date of January 1st.
Effective January 1, 2011 over-the-counter drugs will no longer be
reimbursable under the health flexible spending account (FSA), unless the drugs
are prescribed by a physician.
Section 9003 of the Affordable Care Act established a new uniform standard
for medical expenses. Effective Jan. 1, 2011, distributions from health FSAs
will be allowed to reimburse the cost of over-the-counter medicines or drugs
only if they are purchased with a prescription. This new rule does not apply to
reimbursements for the cost of insulin, which will continue to be permitted,
even if purchased without a prescription. The new rule does not apply to items
for medical care that are not medicines or drugs. Thus, equipment such as
crutches, supplies such as bandages, and diagnostic devices such as blood sugar
test kits will still qualify for reimbursement if purchased after Dec. 31, 2010,
regardless of whether the items are purchased using a prescription.
Claim Forms (send forms to Human Resources)
