Flexible Spending Accounts
A Flexible Spending Account (FSA) is a tax-favored IRS account that can be used to pay for eligible medical expenses not covered by your insurance or for eligible dependent care expenses to ensure your dependents (child or elder) are taken care of while you and your spouse (if married) are working. These funds are set aside from your salary before taxes are deducted, allowing you to pay your eligible expenses tax-free. Flexible Spending Accounts have a grace period that runs from January 1 through March 15 of each calendar year. To obtain reimbursement for expenses incurred for the prior plan year, FSA claims must be submitted by April 15 of each year.
- Expenses reimbursed: dental, vision, medical expenses and procedure and expenses that are medically necessary.
- Contribution Limit
2011-2012 plan year: $5,000 effective 2012 (subject to use it or lose it rule)
2012-2013 plan year: $2,500 effective 2013 (subject to use it or lose it rule)
- Not available for the HIHP HMO or HIHP PPO
Limited Purpose Medical Reimbursement
- Expenses reimbursed: dental, vision and some preventive care; medical expenses generally not included
- Contribution Limit: $2,500 effective 2013(subject to use it or lose it rule)
- This account can be used to cover allowable expenses that are not covered by the Health Savings Account (HSA)
- You should only enroll in the limited purpose account if you are also enrolled in the Health Investor Health Plan and HSA.
Dependent Care Reimbursement
- Expenses Reimbursed: dependent care expenses for child or elder care
- Contribution Limit: $5,000 continues (subject to use it or lose it rule)
For complete plan details and for comparison purposes, please visit the MyBenefits section website.
Health Savings Account (HSA)
- Eligible only if enrolled in a Health Investor Health Plan
- Expenses reimbursed: medical expenses including co-pays and deductibles
- UF contributes $500/yr for individual and $1,000/yr for family coverage for full-time staff; part-time staff receive a prorated amount based on FTE
- Employee contributions are not required to receive the employer contributions
- Employees my contribute pre-tax $2,750/yr for individual or $5,450/yr for family coverage in addition to the employer amounts
- Not subject to use it or lose it rule; funds remaining in your account carryover year to year as long as you have money in the account
- In addition to your enrollment in the plan, you must also complete a separate application with Tallahassee State Bank found on the People First or the state’s My Benefits website to establish your debit card account. For accounts that are not properly or timely established, you will receive a refund for any contributions you’ve made and employer contributions will be returned to UF
How to enroll
Choose one of the following ways to enroll:
- Enroll online via the People First (PF) web site.
- Call PF at 1-866-663-4735 to enroll or make a change by phone.
- Mail your form or fax it to PF at 904-828-6092.
- Attend the UF Benefits’ Group Enrollment Session for assistance with completing your online enrollment with People First.
- Be sure to retain a record of your transactions.