Flexible Spending Accounts
The Flexible Spending Accounts (FSA) are administered by Cigna. There are two FSA accounts offered to employees, Healthcare and Dependent Care spending. The accounts are funded by contributions made by the employee each pay period (24 periods) on a pre-tax basis. The amount contributed to the account can be used on eligible expenses that incur during the time periods listed in the table below.
Roll Over Benefit: If you have any Healthcare flexible spending dollars left at the end of the tax year, you can roll up to $500 of the remaining balance to the following years' FSA account. This is contingent that you enroll and contribute in the following year's FSA benefit.
For 2019 Healthcare FSA: The IRS has increased the 2019 calendar year maximum for contributions. Employees can now set aside healthcare FSA dollars up to $2,650 for the year. (View the bottom table for 2019 FSA contribution limits and dates).
For 2020 Healthcare FSA: The IRS has increased the 2020 calendar year maximum for contributions. Employees can now set aside healthcare FSA dollars up to $2,700 for the year. (View the bottom table for 2020 FSA contribution limits and dates).
Cigna Verification: On occasion, Cigna may ask for expense verification and you will need to submit appropriate documentation for the expense, such as a detailed receipt or Rx script. If documentation is not received, the Cigna debit card will be deactivated until expenses can be verified as an eligible expense under FSA definition. If you need help with an FSA expense verification, Cigna can assist. Email Cigna Help for assistance.
Tip: Be conservative with how much you elect. If you enroll in the FSA Health Care Spending Account and you earn the Health Reimbursement Account (HRA) incentive by participating in the wellness program and/or completing the Healthy Pregnancy program with Cigna, the FSA will pay first. FSA dollars must be incurred within the calendar year and the reason these funds are used first is that the FSA has a limit to the remaining amount that can be rolled over.
New Hires may elect the per pay period maximum. To calculate the annual amount, you multiply the remaining pay periods in the year by the per pay period amount. (See document section or Calculate your annual amounts (PDF)).
|Tax Year:||2019 Healthcare Flexible Spending Account||2019 Dependent Care Flexible Spending Account||2020 Healthcare Flexible Spending Account||2020 Dependent Care Flexible Spending Account|
|Expense Type:||Healthcare Related||Eligible Dependent Care||Healthcare Related||Eligible Dependent Care|
|Minimum Per Pay Period||$5.00||$5.00||$5.00||$5.00|
|Maximum Per Pay Period||$110.41||$208.33||$112.50||$208.33|
|Period to Incur Expenses||January to December 2019||January to December 2019||January to December 2020||January to December 2020|
2019 FSA reimbursement claims must be submitted no later than January 31st, 2020.
2020 FSA reimbursement claims must be submitted no later than January 31st, 2021.