Flexible Spending Programs
- Flexible Spending Account Healthcare (FSA)
- Dependent Care Reimbursement Account (Daycare)
Flexible Spending Program Eligibility and Enrollment
- Employees MUST enroll and enter a new annual selection dollar amount.
- Must be re-elected each fiscal year, does not rollover from plan year to plan year.
Both Accounts are Use it or Lose it.
- Pre-tax money is available to use during each fiscal plan year (July 1 – June 30).
- Grace period, which allows you to continue to incur claims and use current fiscal plan year money up to Mid-September.
- Once grace period is over, if elected, you will start to use your new fiscal plan year money.
- Any unused money will be lost to you and returned to the University which is used to offset the UMR administration fees for the program.
Customer Service: 1-800-826-9781
Website: https://www.umr.com
- File Claims
- Upload Receipts
- Track Expenses
- Download Forms
- Manage Direct Deposit
- Allotted amount set annually by IRS; refer to Healthcare.gov for current amounts
- Pre-tax dollars go into an account to use for qualified medical, dental and vision expenses for employee, spouse and dependents
- Benefit is fully funded July 1 of each fiscal plan year
- Must be re-elected annually during open enrollment
- Covers OTC and feminine hygiene products; refer to fsastore.com for eligible items
- Pre-loaded debit card with annual elected amount
- Cashless, not paperless. Keep receipts as UMR may request that you provide to substantiate your purchase.
- Manual claims may also be submitted
- File claims, upload receipts, track expenses, download forms and manage direct deposit on UMR’s website.
- $5000 (single or married filing jointly) or $2500 (married filing separately)
- Pre-tax dollars go into an account to use for a certified daycare, nursing home facility as well as Fall/Spring/Summer camps for children up to age 14
- Must provide a Federal Tax ID#
- Submit claims with invoices for reimbursement
- File claims, upload receipts, track expenses, download forms and manage direct deposit on UMR’s website.
- We encourage you to reach out to your tax/financial advisor on federal and state tax guidelines.