Who's eligible: Employees with Full, Mid-Level and Core benefits
Academic Student Employees and Graduate Student Researchers are eligible for DepCare FSA
Who’s covered: You and your family members
Who pays: You
How the Plans Work
- You must enroll annually, usually during Open Enrollment, to participate.
- You specify an amount to be taken from your paycheck each month and deposited in your Health FSA and/or your Dependent Care FSA.
- When you incur eligible expenses, you submit a claim form and appropriate documentation of these expenses to CONEXIS. CONEXIS then reimburses you from the funds in the appropriate account. You must submit claims by April 15 of the following year to receive reimbursement.
- Because the FSA contributions are deducted from your paycheck before taxes are withheld, your taxable income is reduced, and you save money on taxes. Your savings will depend on your particular tax situation.
- FSA contributions cannot be changed during the year unless you experience a qualifying event. The IRS defines qualifying events and allowed changes. They include:
- A change in number of eligible dependents;
- A change in dependent eligibility, including a child reaching age 13;
- A change in your legal marital status;
- A change in your residence;
- A change in employment status that causes a gain of benefit eligibility;
- A change in cost or coverage—that is, your dependent care expenses increase or decrease, or you change childcare providers or the amount of time needed for childcare.
DepCare FSA contributions
You determine how much you want taken from your monthly paycheck(s), from a minimum of $180 per plan year up to the lesser of:
- $5,000 per plan year ($2,500 if you are married and filing a separate income tax return) or
- Your total earned income
- Your spouse's total earned income
- If your spouse is incapable of self-care or is a full-time student, you may claim up to $2,400 for one dependent or $4,800 if you claim two or more dependents.
If your spouse is also eligible to participate in a dependent care FSA, your combined contributions should not exceed the maximums stated above. Remember that you forfeit any money you don't use; so calculate your contributions carefully.
Health FSA contributions
You can contribute up to $2,500 per plan year. If both you and your spouse are UC employees, you may each contribute up to $2,500. You must contribute a minimum of $180 per year to participate. Remember that you forfeit any money you don't use; so calculate your contributions carefully.