Flexible Spending

PayFlex

PayFlex is the College’s flexible vendor through 2016.

  • You will be able to continue using your PayFlex card until 12/31/16.
  • You will have until 3/31/17 to submit claims to PayFlex for 2016.
  • To review your PayFlex account(s) Pay Flex
  • You can rollover (medical only) balances of $10 – $500 to HealthEquity in 2017.
  • Rollover balances will be updated with HealthEquity in mid-April 2017.
  • Accounts will automatically be created in mid-April through HealthEquity for those with rollover balances of $10-$500.

Open Enrollment for 2017 – HealthEquity

 

Terms & Regulations

  • FSA – flexible spending account
  • Healthcare FSA – flexible spending account for medical expenses (formerly MERA)
  • MERA – medical expense reimbursement account
  • DCRA – dependent care reimbursement account
  • Effective 1/1/2017, the maximum election amount for a Healthcare FSA will remain the same at $2,600. Dependent Care FSA remains at $5,000.
  • Effective 1/1/2014, employers that offer Healthcare FSA programs had the option of allowing participants to roll over up to $500 of unused funds at the end of the plan year. Williams amended our plan which allowed for carry over into 2015, and in future years.
  • Per Health Care Reform Changes in Healthcare FSA effective 1/1/2011, over-the- counter medications are not eligible for reimbursement through a Healthcare FSA without a prescription.