Today's MessagePosted: Thursday, November 17, 2022
Flex Spending Account Open Enrollment for 2023: November 1-December 12, 2022
Open enrollment for the 2023 NYS Flex Spending Account (FSA) began Tuesday, November 1, and ends at 11:59 p.m. Monday, December 12. The program helps eligible state employees save money on necessary health- or dependent-care expenses because the money they set aside in their accounts is not subject to federal, state, or Social Security taxes.
The Flex Spending Account offers three benefits:
- The Health Care Spending Account (HCSA) lets you set aside any amount from $100 up to $2,850 for the 2023 plan year to pay for health care expenses that are not reimbursed by your health insurance or other benefit plan. However, only medically necessary medical, hospital, dental, vision, hearing, and prescription drug expenses for you, your spouse, and your eligible dependents can be reimbursed by your HCSA.
- The Dependent Care Advantage Account (DCAA) allows your family to set aside up to $5,000 in pre-tax dollars for eligible custodial childcare, elder care, or disabled dependent care expenses that are necessary for you and your spouse, if you are married, to work.
- The Adoption Advantage Account allows employees to set aside up to $15,950 to pay for expenses related to the adoption of an eligible child with pre-tax dollars. This benefit is available to M/C employees and those represented by CSEA, PEF, UUP, NYSCOPBA, and PBA.
For complete information, visit Flex Spending Account. If you wish to take advantage of this benefit, submit your application for enrollment online or by phone at (888) 204-4512. You will need your NYS Employee ID number, which is located on your pay stub, to complete your application. Please be sure to enroll by December 12.
If you are enrolled for the 2022 plan year, you must re-enroll to continue your benefits in 2023.
Important note: Employees who do not work for 26 consecutive 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 to have coverage for all of 2023.
The 2023 enrollment deadline of 11:59 p.m. December 12 will be strictly enforced.
Tuesday, November 22, 2022
Tuesday, November 29, 2022