Today's MessagePosted: Thursday, November 8, 2018
2019 NYS Flex Spending Account Open Enrollment Deadline Tomorrow
Open enrollment for the 2019 NYS Flex Spending Account (FSA) ends tomorrow, November 9. The account offers two benefits: the Health Care Spending Account (HCSAccount) and the Dependent Care Advantage Account (DCAAccount).
The HCSAccount allows employees to set aside between $100 and $2,650 annually in pretax salary to pay for health-care expenses not reimbursed by health insurance.
The DCAAccount allows employees to set aside up to $5,000 annually in pretax salary for eligible child care, elder care, or disabled dependent care expenses. The DCAAccount employer contribution will be available to M/C employees and those represented by CSEA, PEF, UUP, NYSCOPBA, Council82, PBANYS, and GSEU for the 2019 plan year.
Employees who do not work for 26 pay periods should consider electing a shorter time frame for their deductions so they do not lose coverage while off the payroll. For example, faculty members who are not paid through the summer should elect to have all deductions taken in the spring semester in order to have coverage for all of 2019.
Participants currently enrolled in the HCSAccount or DCAAccount must re-enroll to continue benefits in 2019.
Paperless enrollment is quick, easy, and secure. For program details or to enroll in the FSA, visit the FSA website or call the FSA hotline at (800) 358-7202.
The November 9 deadline for 2019 enrollment will be strictly enforced.