The University offers two types of flexible spending accounts (FSA’s), health care and dependent care. You may participate in one or both accounts. Enrollment in these accounts allows you to set aside a portion of your salary on a pre-tax basis through payroll deduction for un-reimbursed medical and/or dependent care expenses for each January 1 through December 31 plan year.

To enroll in the program, you must complete a salary reduction agreement designating a part of your salary for pre-tax treatment under the health care and/or dependent care accounts, based upon your estimated expenses for the coming year. The minimum amount you can deposit into these accounts is $200 per calendar year. Open enrollment for this program generally takes place in November, and effective the following January.

From the health care FSA, you can pay for eligible out-of-pocket medical, dental, eye care, and other medical related expenses, including co-payments and deductibles to a maximum of $2,500 per calendar year.

From the dependent care FSA, you can pay for eligible child care and/or dependent care expenses to a maximum of $5,000 per calendar year.

Payroll deductions are made on a pre-tax basis which means they reduce the amount of your salary subject to federal, state (except NJ), and social security taxes. Amounts that remain unspent at the end of the plan year are subject to the “use it or lose it” rule, and will be forfeited.

More information on health care and dependent care spending accounts is available at the New Employee Orientation, and at any other time, through the Human Resources office. Literature and claim forms are available at the University Form Centers.