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Procedure

03.02.130.d Flexible Spending Accounts

 

 

 

 

 

Ameriflex is the third party administrator for the College’s which offers voluntary benefits to full-time employees on a pre-tax basis through payroll deduction.  Electing benefits under this Program allows for employees to reduce their taxable income.  Upon initial full-time employment and within 30 days, employees are eligible to participate in flexible spending accounts.  If an employee waits, he/she will be given the opportunity during open enrollment, which is held in December.  The benefit year is January-December.

Health Care Flexible Spending Account (HCFSA)

An employee may enroll in the HCFSA for health care expenses by contributing a dollar amount through payroll deduction.  The contribution is taken out of the pay before taxes and may be used for various out-of-pocket health expenses (i.e., co-payments and prescription medicine to braces and contact lenses, etc.)

Dependent Care Flexible Spending Account (DCFSA)

An employee may enroll in the DCFSA for dependent care expenses by contributing a dollar amount through payroll deduction.  The contribution is taken out of the pay before taxes ad may be used for care of a dependent child under age 13, an incapacitated spouse and/or a dependent adult.