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FLEXIBLE SPENDING ACCOUNTS

What are Flexible Spending & Dependent Care Accounts?

  • Flexible Spending Accounts are pre-tax benefit accounts used to pay for out-of-pocket healthcare costs such as deductibles, co-pays, prescribed medication, and some over the counter medications.

  • Dependent Care Accounts are pre-tax benefit accounts used to pay for dependent care services such as preschool, summer day camp, before or after school programs, and child or elder daycare.

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Plan Rules:

  • Eligibility: Full-time employees working 20+ hours/week, spouse, and children (up to age 13 for Dependent Care and up to age 26 for Medical FSA)

  • Coverage through Medcom

  • Short Plan Year: July 1- December 30, 2024: employees must re-enroll each year

  • New Plan Year moving forward: January 1, 2025 - December 31, 2025

  • Only family status changes will allow you to change your annual election. The altered election must be consistent with the status change

  • Married and not filing jointly participants limited to $2,500 deferral for Dependent Care

  • Transfer of funds between the Dependent Care and Medical Care accounts are not allowed

  • **NOTE: BCS Childcare NOW eligible to use Dependent Care funds

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Contact Campus Benefits for assistance with claims.

Email: mybenefits@campusbenefits.com

Call 1-866-433-7661, option 5

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What is covered under Medical FSA Account?

  • Medical coinsurance and deductible

  • Doctor’s office visit copays

  • Emergency Room costs

  • Dental copays and out-of-pocket costs

  • Vision copays and out-of-pocket costs

  • Contacts and Glasses

  • Prescriptions

  • Please see the full eligibility list for other covered expenses

Who is covered under a Dependent Care Account?

  • Children ages 12 and under (including stepchildren, grandchildren, adopted or foster children, and children related to you who are eligible for a tax exemption on your federal tax return).

  • Tax dependents residing with you and incapable of self-care (this could include your spouse, a child age 13 and over, and elderly parents).

The CARES Act permanently reinstates over-the counter products, and adds menstrual care products for the first time, as eligible expenses for your FSA funds WITHOUT A PRESCRIPTION!

Eligible items for purchase without a prescription now include, but are not limited to:

  • Pain relief medications, e.g., acetaminophen, ibuprofen, naproxen sodium

  • Cold & flu medications

  • Allergy medications

  • Acne treatments

  • Eye drops

  • Stomach & digestive aids

  • Pads, Tampons and Menstrual sponges

  • Sleep aids

  • Children’s pain relievers, allergy medicines, and digestive aids

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