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FLEXIBLE SPENDING ACCOUNTS

What are Flexible Spending & Dependent Care Accounts?

 

Flexible Spending Accounts

A pre-tax benefit account used to pay for out-of-pocket healthcare costs such as deductibles, co-pays, prescribed medication, and other medical costs.
 

Dependent Care Accounts

A pre-tax benefit account used to pay for dependent care services such as preschool, summer day camp, before or after school programs, and child or elder care.

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Expenses Must Occur During Plan Year 

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Plan Rules:​

  • Eligibility: All full-time employees working 20 or more hours/week, spouse and children up to age 26 (Dependent care for children up to age 13) 

  • Normal Plan Year: Plan year is from January 1 to December 31

  • Only family status changes will allow you to change your annual election. The altered election must be consistent with the status change

  • Transfer of funds between Dependent Care and Medical Care are prohibited

  • Married and not filing jointly participants limited to $2,500 deferral for Dependent Care

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Contact Campus Benefits for assistance with claims.

Email: mybenefits@campusbenefits.com

Call 1-866-433-7661, option 5

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CAS Website

IMPORTANT NOTE:

  • Dependent Care FSA is for eligible expenses related to the care of your child, disabled spouse, elderly parent, or other dependent who is physically or mentally unable of or disabled for self-care (i.e. day care, adult day care).

  • Medical expenses for your dependent are not eligible for reimbursement under the Dependent Care.

What is covered under a Medical FSA Account?

  • Medical coinsurance and deductible

  • Doctor's office visit copays

  • Emergency Room Costs

  • Dental copays & out of pocket costs

  • Vision copays and out of pocket costs

  • Contacts and Glasses

  • Prescriptions

  • FSA Eligibility List: CLICK HERE

  • FSA Calculator: CLICK HERE

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Who is covered under a Dependent Care Account?

  • Children ages 13 and under

    • Biological children

    • Step children

    • Grandchildren

    • Adopted children

    • Foster children

  • Tax dependents residing with you & incapable of self care

    • Could include spouse and elderly parents

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The CARES act permanently reinstates over the counter products and adds menstrual care products as eligible expenses for your FSA funds without a prescription.

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Eligible items for purchase without a prescription now include, but are not limited to:

  • Pain relief medications, e.g., acetaminophen, ibuprofen, naproxen sodium

  • Cold & flu medications

  • Allergy medications

  • Acne treatments

  • Eye drops

  • Stomach & digestive aids

  • Pads, Tampons and Menstrual sponges

  • Sleep aids

  • Children’s pain relievers, allergy medicines, and digestive aids

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