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Flexible Spending Accounts
Section 125 Flexible Benefits Plan
A. Definition
Section 125 of the Internal Revenue Code allows Employees to convert taxable salary into
non-taxable benefits. Employees may choose to pay for qualified benefits with "before
tax dollars", rather than "after tax dollars", thereby, paying less in taxes
and having more spendable income.
B. Coverage
The following benefits qualify for pre-tax treatment:
- Dependent Care Reimbursement - covers eligible dependent care expenses up to a limit of $5,000 annually;
- Group Dental Plan Premiums - covers premiums for dental coverage an Employee selects which requires a payroll deduction;
- Group Medical Premiums - covers premiums for health insurance coverage an Employee selects which requires a payroll deduction;
- Medical Reimbursement - covers eligible out of pocket medical expenses up to a limit of $5,000 annually;
- Short-Term Disability Plan Premiums - covers premiums for income protection for lost time due to accident and sickness.
C. Cost
Administrative fees paid entirely by the University.
D. Enrollment
A full-time Employee is eligible to participate beginning as early as his/her start date or the date the enrollment form is signed, whichever is later. In order to participate, an Employee must submit a completed enrollment application to the Department of Human Resource Services within thirty-one (31) days of the hire date.
Unless a qualifying condition is met, enrollment in this plan cannot be changed during the calendar year in which the election is made. The University has an open enrollment period each year. Current Employees must re-enroll in this plan every year during Open Enrollment. If an application is received during Open Enrollment, then the plan will be effective on January 1st of the next calendar year.
FSA Website
The easiest way to manage your Flexible Spending Account. Go to flores247.com and use the Web to monitor your Flexible Spending Account. It's fast and easy and you'll receive instant information.
How do I begin?
- Go to www.flores247.com
- Enter 0+your University ID number in the Login box and password/pin. Your password/pin is the last four numbers of your University ID.
- Make your selection from the following choices:
- Account Info
- Forms/Documents
- Tools
- Change Pin
What will I find?
- Account Information
- Current claim status
- Which payments have been made and when they were paid
- How much money you have left in your account(s)
- And much, much more!
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