Today's Message
Posted: Monday, November 30, 2020Flex-Spending Account Open Enrollment for 2021 Ends Today
Open enrollment for the 2021 NYS Flex Spending Account (FSA) ends at 10:00 p.m. today, November 30. This is your final chance to enroll for the 2021 plan year. The FSA program helps state employees save money on necessary health- or dependent-care expenses because the money set aside in these accounts is not subject to federal, state, or Social Security taxes.
The Flex Spending Account offers three benefits:
The Health Care Spending Account (HCSAccount) allows employees to set aside from $100 to $2,750 annually in pretax salary to pay for eligible health-care expenses that are not reimbursed by health insurance.
The Dependent Care Advantage Account (DCAAccount) allows employees to set aside up to $5,000 annually in pretax salary for eligible child care, elder care, or disabled dependent care expenses. Based on salary, the employer contribution will provide up to $800 for M/C employees and those represented by CSEA, UUP, NYSCOPBA, and GSEU for the 2021 plan year.
The Adoption Advantage Account allows employees to set aside up to $14,300 to pay for expenses related to the adoption of an eligible child with pre-tax dollars. This benefit is available to M/C employees and those represented by CSEA, UUP and NYSCOPBA.
Complete information on the Flex Spending Account can be found on the Governor's Office of Employee Relations website. Also look for the brochure in your campus mailbox or access the brochure online (PDF, 1.7 MB).
Important note: Employees who do not work for 26 consecutive pay periods should consider electing a shorter time frame for their deductions so they do not lose coverage while off the payroll. For example, faculty members who are not paid through the summer should elect to have all deductions taken in the spring semester in order to have coverage for all of 2021.
Participants currently enrolled in the HCSAccount or DCAAccount must re-enroll to continue benefits in 2021.
Paperless enrollment is quick, easy, and secure. For program details or to enroll in the FSA, please visit the FSA website or call the FSA hotline at (800) 358-7202.
Today's 10:00 p.m. deadline for 2021 enrollment will be strictly enforced.
