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
- HealthEquity is the College’s flexible vendor for 2017
- Open Enrollment ends November 27, 2016.
- To learn more about Flexible Spending and Health Savings Accounts watch informational videos at Health Equity.com.
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.