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Posted: Friday, November 16, 2018

Adoption Advantage Account: Open Enrollment November 20-December 11

As a result of collective bargaining, we are pleased to announce the addition of the Adoption Advantage Account to the Flex Spending Account (FSA), beginning January 1, 2019. This type of FSA allows eligible state employees to set aside pre-tax deductions for expenses related to child adoption.

For the 2019 plan year, employees who are represented by CSEA and UUP are eligible to enroll in the Adoption Advantage Account. The open enrollment period for the Adoption Advantage Account is November 20 through December 11, 2018.

Employees can set aside pre-tax payroll deductions to pay qualified expenses, including home study and application fees, reasonable and necessary legal adoption fees, court costs, attorney fees, agency fees, medical services and counseling, travel and lodging fees, and other expenses that are directly related to a legal adoption as defined by IRS guidelines. 

Although employees will not save FICA on the amount set aside in adoption assistance accounts, they will save federal and state tax (where applicable). Currently the annual IRS contribution limit for pre-tax payroll contributions to an adoption account is $13,810.

More information is available on the FSA website, by phone at (800) 358-7202, or by e-mail at fsa@goer.ny.gov.

Submitted by: Linda L Kravitz
Also appeared:
Tuesday, November 20, 2018
Thursday, November 29, 2018
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