Richmond Home

Flexible Spending Account (FSA)

The University's Medical Reimbursement Account, administered by Flores, is available for qualifying medical, dental, and vision expenses incurred by you and your eligible dependents (cannot participate in this account if enrolled in the High Deductible Health Plan). You may also choose to participate in a Dependent Care FSA.

The money you save in a FSA can be used to pay for qualified benefits pre tax, rather than with after tax dollars. Therefore, you will pay less in taxes and have more spendable income for health care related costs.

  • The University will roll over up to $500 of unused funds each year.
  • The annual medical FSA limit will be $2,750 for taxable years beginning in 2020.

Participants in the medical FSA will receive a debit card, a convenient way to pay for medical expenses.

If you wish to participate in either the Health FSA or the Dependent Care FSA in 2020, you MUST enroll in BannerWeb. If you are currently participating in these plans, you must re-enroll for 2020. Failure to enroll by 5:00 p.m. on Friday, November 15, 2019 will negate your opportunity to participate in the health or dependent spending accounts for 2020.

Learn more

Questions About Benefits?

Contact Human Resources at (804) 289-URHR (8747) or email URHR@richmond.edu.