{"id":1176,"date":"2021-10-13T15:43:16","date_gmt":"2021-10-13T15:43:16","guid":{"rendered":"https:\/\/offices.vassar.edu\/secret-human-resources\/?page_id=1176"},"modified":"2025-11-19T19:57:18","modified_gmt":"2025-11-19T19:57:18","slug":"flex-spending-accounts","status":"publish","type":"page","link":"https:\/\/offices.vassar.edu\/human-resources\/benefits-and-wellness\/flex-spending-accounts\/","title":{"rendered":"Flex Spending Accounts"},"content":{"rendered":"<!-- Inserted by Dropdownizer plugin. Forces video embeds contained in dropdowns to have a size --><style>.dropdownizer__dropdown iframe { width: 100% !important; height: 100% !important; }<\/style>\n<p>Vassar offers Flexible Spending Accounts (FSA) which are pre-tax payroll deductions. Flexible Spending Accounts pay dependent care expenses and health care expenses that are not covered by an employee benefit plan. These accounts are available to all benefit-eligible employees. Click below for information and resources.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">General Information:<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">What is a Flex Spending Account?<\/h3>\n\n\n\n<p>A Flexible Spending Account (FSA) is a pre-tax payroll deduction set up to pay expenses which are not covered by an employee benefit plan. There are different types of FSA accounts that are offered, Healthcare FSA, Dependent Care FSA, Parking\/Transit FSA.(See Eligible Expenses below.)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>IRS rules on FSAs<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Flex accounts must be used within the year you have enrolled in them. You lose any money that you put in an FSA that you do not claim for expenses. The accounts will not roll over to the next plan year.&nbsp;<\/li>\n\n\n\n<li>To claim an expense, you must incur it during the calendar (tax) year: that is, by December 31. You then have until March 31 of the following year to submit the claims.<\/li>\n\n\n\n<li>The IRS poses an FSA limit on accounts each year. You can find the account limits posted under the health insurance page on the Vassar.edu website.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Signing Up for a Flex Spending Account<\/h3>\n\n\n\n<p>Every year during Open Enrollment, you can open either a Medical\/Dental FSA, a Dependent Care FSA, a Parking Expense FSA, a Transit Expense Flex, or all FSA options. Per IRS rules, you must actively elect an account every year you want one: accounts are not automatically renewed from year to year.&nbsp;<\/p>\n\n\n\n<p>Medical, Dental and Dependent Care FSA funds are not carried over between tax (calendar) years. Parking and Transit FSA funds are eligible for rollover between tax (calendar) years.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Can I Change My Flex Account Throughout the Year?<\/strong><\/h3>\n\n\n\n<p>You can change your dependent care flex, parking flex, and transit flex throughout the year.<\/p>\n\n\n\n<p>You <strong>CAN NOT <\/strong>change your health and dental flex throughout the year unless you have a \u201cqualified life status change event:\u201d the birth of a child, marriage, divorce, or job or benefits loss.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How Do I Use My Flex Account?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The transit, health\/ dental, and dependent care flex accounts provide you spending cards you can use at time of service.\n<ul class=\"wp-block-list\">\n<li>If ASI needs additional documentation for the card swipe, you will need to upload a detailed receipt.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>No Flex Card is given for the parking flex.<\/li>\n\n\n\n<li>If you can\u2019t use the card for an expense, you can pay cash and save the receipt and submit that for reimbursement.\n<ul class=\"wp-block-list\">\n<li>Valid Forms of Payment for Submitting a Claim for Reimbursement\n<ul class=\"wp-block-list\">\n<li>Receipts clearly marked \u201cpaid\u201d which also clearly indicate the date and type of service and for whom provided<\/li>\n\n\n\n<li>Explanations of Benefits (\u201cEOB\u2019s\u201d) sent by your insurance company showing what they have paid and the balance you owe<\/li>\n\n\n\n<li>Statements describing your semester deductions for Wimpfheimer center care<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Parking and Transit FSA<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is a Parking or Transit FSA Account?<\/strong><\/h3>\n\n\n\n<p>The Pre Tax Commuter Benefit Program is a qualified transportation benefit program authorized by Internal Revenue Code (IRC) \u00a7 132 and adopted by your employer. For Commuter Benefit Programs administered by ASIFlex, qualified expenses are dictated by the IRS and ASIFlex uses those IRC guidelines in reviewing claims.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Transit and Parking FSA Accounts - Eligible Expenses&nbsp;<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Parking<\/h4>\n\n\n\n<p>Eligible parking locations: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>metro-parking lot<\/li>\n\n\n\n<li>commercial lot<\/li>\n\n\n\n<li>privately owned parking lot<\/li>\n\n\n\n<li>parking garage<\/li>\n\n\n\n<li>parking meter<\/li>\n\n\n\n<li>employer provided parking.<\/li>\n<\/ul>\n\n\n\n<p>Additional qualifying criteria: an employee must either take mass transportation, or ride in a vanpool, or in a carpool of two or more persons from the parking location to work.<\/p>\n\n\n\n<p><strong>NOT Eligible<\/strong>: A single occupant of a vehicle who drives to work, parks at an eligible parking location, and does NOT take mass transportation, and does NOT ride in a vanpool or carpool from that location<\/p>\n\n\n\n<p>Proof of parking is required: It may be in the form of a parking lot receipt or, if no receipt is provided, the application itself will suffice.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Transit<\/h3>\n\n\n\n<p>Eligible Expenses: Transit passes, tokens, fare cards, vouchers, or similar items entitling you to ride a mass transit vehicle to or from work. The mass transit vehicle may be publicly or privately operated and includes bus, rail, or ferry.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Medical\/ Dental FSA<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How The Medical\/ Dental FSA Works&nbsp;<\/strong><\/h3>\n\n\n\n<p>The amount of money you elect to go into the FSA during your enrolment period will be wholly loaded onto the FSA debit card when you receive it. (e.x. If you sign up for $1,000 FSA during open enrollment for the next plan year, January 1st your $1,000 in FSA pre tax money is available to you) Throughout the remainder of that plan year you will get pre-tax deductions taken out of your paycheck to \u201cpay back\u201d this money that was frontloaded to you on January 1.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Medical\/ Dental Eligible Expenses&nbsp;<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Medical appointment co-payments<\/li>\n\n\n\n<li>Prescription co-payments<\/li>\n\n\n\n<li>Deductibles and Coinsurance: out-of-network medical\/dental services you paid for in part or full because you hadn\u2019t yet met your annual deductible or owe coinsurance.&nbsp;<\/li>\n\n\n\n<li>Any dental services, unless you can get them covered through a secondary insurance policy: fluoride treatments, cleanings, check-ups, crowns, etc.<\/li>\n\n\n\n<li>Glasses, contact lenses, saline and disinfecting solutions, and LASIK laser vision correction surgery<\/li>\n\n\n\n<li>Orthodontia (braces)<\/li>\n\n\n\n<li>Services you paid for because you exceeded a health plan\u2019s limits: physical therapy, mental health, etc.<\/li>\n\n\n\n<li>Transportation to receive medical care, including ambulance service<\/li>\n\n\n\n<li>Alternative medicine from a licensed provider: acupuncture, acupressure, chiropractic, herbalistic, etc.<\/li>\n\n\n\n<li>Massage therapy if prescribed to treat a condition<\/li>\n\n\n\n<li>Hearing aids<\/li>\n\n\n\n<li>Durable medical equipment above your health plan\u2019s covered amount: medically necessary beds, wheelchairs, etc<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Dependant Care FSA<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Eligible Expenses<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Care for your dependent who is under age 13:\n<ul class=\"wp-block-list\">\n<li>Before and after school care<\/li>\n\n\n\n<li>Babysitting and nanny expenses<\/li>\n\n\n\n<li>Daycare, nursery school, and preschool<\/li>\n\n\n\n<li>Summer day camp<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Care for your spouse or a relative who is physically or mentally incapable of self-care and lives in your home<\/li>\n<\/ul>\n\n\n\n<p>Please note that it needs to be a licensed care provider. (They have a Business tax ID.)<\/p>\n\n\n\n<p>Specific Questions about your FSA Flex Account? <a href=\"https:\/\/www.asiflex.com\">Log in to your ASI FSA account<\/a> or call <a href=\"tel:+18006593035\">(800) 659-3035<\/a>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/docs.google.com\/document\/d\/15uifYulO6M0SailJeU0P96NtdeAhi_-hnAyIzh4whHc\/edit?usp=sharing\">Flex Spending Accounts<\/a><\/li>\n\n\n\n<li><a href=\"http:\/\/www.asiflex.com\/\">ASI Flex Spending<\/a>\n<ul class=\"wp-block-list\">\n<li>Flexible spending accounts are designed to reduce taxes by using pre-tax income to pay for unreimbursed medical, dental, vision and\/or dependent care expenses. Employees who have an HSA are not eligible for a regular medical flex spending account but may elect a \u201climited scope dental-vision\u201d flex spending account for excess dental or eyewear expenses. The IRS sets the annual maximum contribution amounts for medical and dependent care flex spending accounts.<\/li>\n\n\n\n<li>For employees using public transportation to commute to work, the College offers transit and parking flex spending accounts. These accounts have monthly, rather than annual, contribution limits and can be changed during the year.&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Vassar offers Flexible Spending Accounts (FSA) which are pre-tax payroll deductions. Flexible Spending Accounts pay dependent care expenses and health care expenses that are not covered by an employee benefit plan. These accounts are available to all benefit-eligible employees. Click below for information and resources. General Information: What is a Flex Spending Account? A Flexible [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":1133,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1176","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/pages\/1176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/comments?post=1176"}],"version-history":[{"count":17,"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/pages\/1176\/revisions"}],"predecessor-version":[{"id":3717,"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/pages\/1176\/revisions\/3717"}],"up":[{"embeddable":true,"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/pages\/1133"}],"wp:attachment":[{"href":"https:\/\/offices.vassar.edu\/human-resources\/wp-json\/wp\/v2\/media?parent=1176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}