Flexible Spending Accounts
Cornell College offers medical and dependent care flexible spending accounts through First Administrators, Inc. FSAs (Flexible Spending Accounts) allow employees to have pre-tax money deducted from their regular paychecks and deposited into one or both of the reimbursement accounts (health or dependent care).
You don't have to enroll in a health insurance plan in order to participate in the flexible benefits plan.
Eligibility:
First of the month following a benefit-eligible employee’s date of hire. When the first day of employment falls on the first day of the month, the employee is eligible to participate in the plan on that date. The minimum amount of election is $15 per month and the maximum annual election amount is $5,000 for dependent care and, as of January 1, 2009, the maximum annual election for medical is $7,000.
Employees may change their annual election amount during open enrollment that is effective with the plan year beginning January 1. In addition, employees may enroll or change their election after experiencing one of the following qualifying events: marriage, divorce, birth, adoption, death or loss of coverage elsewhere (for a complete listing, contact the Human Resources Office).
FSA Information:
Information on Medical/Health FSA
What are FSAs and how do they work?
Medical Reimbursement Plan Q&A
Dependent Care Reimbursement Plan Q&A
Register with online access to view your personal FSA account and claims information.
Eligible Over-the-Counter Rx and Medications
2009 Filing and Reimbursement Deadlines/Calendar
Forms:
Claim Reimbursement Form - For flex account reimbursements. Fax form to 712-279-8479 or email to Flex@firstadministrators.com.
Automatic Reimbursement Enrollment Form
Direct Deposit Enrollment Form
This summary is not intended to be a complete description of your benefits. Please consult your summary plan description and/or insurance certificate for additional details including plan limitations and exclusions. The master plan documents will prevail.
