Skip to main content

FLEXIBLE SPENDING ACCOUNTS 2018

OTHER INFORMATION

information

Comparison Chart

 

 RELATED LINKS

 link

Coming Soon

 

 FORMS

forms

 Coming soon

 

 

Health Care Flexible Spending Account (HCFSA)

Dependent Care Flexible Spending Account (DCFSA)

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Health Care Flexible Spending Account (HCFSA)

Allows you to use pre-tax dollars to pay eligible health care expenses not covered by your medical or dental plan

Eligibility

  • All benefits-eligible Faculty, Exempt, Non-Exempt and SEIU employees are eligible to contribute.
  • You may be eligible for a Dartmouth contribution if you:
    •      Are Faculty, Exempt, Non-Exempt, or SEIU.
    •      Make $60,000/year or less.
    •      Select the OAP medical plan or elect no medical coverage.

Key benefits

  • Set aside guaranteed pre-tax dollars that you can use during the year to pay for eligible medical expenses.
  • You can use your WageWorks debit card to pay for eligible expenses on day one, and even spend leftover HCFSA dollars athttp://thefsastore.com without substantiation.
  • The account can be used in conjunction with an HRA to help pay vision and dental expenses, copays and additional deductible and coinsurance amounts not paid by the HRA.

Other considerations

  • Some expenses will require substantiation as you spend. Keep your receipts for any expense that is paid by your HCFSA.•HCFSAs have strict year-end deadlines regulated by the IRS. All funds in excess ofthe$500 carryover will be forfeited.
  • Unused HCFSA funds are forfeited if you leave Dartmouth.

hcfsa

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dependent Care Flexible Spending Account (DCFSA)

Allows you to use pre-tax dollars to pay for childcare or care for an elderly or disabled family member

Eligibility

  • All benefits-eligible Faculty, Exempt, Non-Exempt, and SEIU Employees may contribute.
  • Research Associate Bs and Research Fellows are not eligible to participate in the DCFSA.
  • You may NOT contribute to a DCFSA while you or a spouse is not working (i.e. leave of absence, hiatus, unemployed, etc.)

Key benefits

  • Funds can be used tax-free to pay qualified dependent care expenses, including:
    •      Child care services
    •      Nannies
    •      After school programs
    •      Summer day camps
    •      Adult day centers for aging parents
    •      Nursing care for dependents with handicaps
  • Funds are available as they are deposited.

Other considerations

  • Qualifying dependents may be defined as children under the age of 13, or a child or relative who is physically or mentally incapable of self-care.
  • Claims are submitted manually, using the form found at dartgo.org/hrforms
  • DCFSAs have strict year-end deadlines regulated by the IRS. All funds not used by the end of the grace period of March 15th will be forfeited.

dcfsanew

Last Updated: 9/28/17