|Important Flexible Spending Account (FSA) Updates:
Recent COVID-19 relief legislation provides employees with flexibility in managing FSA elections for 2020 and 2021. Options are detailed below, including but not limited to the ability to carry over all unused funds to the next year, as well as make mid-year election changes without a qualifying life event.
Syracuse University offers eligible employees the opportunity to contribute pre-tax dollars to Health Care and Dependent Care FSAs administered by HealthEquity/WageWorks.
The Health Care FSA can be used to pay for eligible health care expenses such as copays, deductibles, prescription drugs and over-the-counter medications, dental exams and treatment, eyeglasses and contact lenses. If you elect a Health Care FSA, you can spend the funds on expenses for yourself, your spouse and your children, or other individuals that you claim as dependents on your tax return. Neither you nor your family members need to be enrolled in the Syracuse University health plan, or even enrolled in the same health plan.
The Dependent Care FSA can be used to pay for daycare and related expenses for a dependent child or adult so that you and your spouse/domestic partner can work or attend school.
In 2021, the maximum amount you can contribute is $2,750 to a Health Care FSA and $5,000 per household to a Dependent Care FSA.
Carryover of Unused Funds
All unused funds from both 2020 and 2021 will carry over and be available for use in the next year. This opportunity is provided under temporary COVID relief legislation that the University has adopted.
As a reminder, the deadline to submit eligible expenses for reimbursement from your remaining 2019 Health and Dependent Care FSAs has been extended for up to 60 days after the coronavirus (COVID-19) national health emergency is declared over by the federal government. Once the national health emergency is declared over and the 60 days has expired, up to $500 of any unused Health Care FSA funds from 2019 will be carried over to your 2020 Health Care FSA. Please note there is no carryover permitted for the 2019 Dependent Care FSA.
Filing a Claim
You will have until Apr. 30 of the following plan year to submit claims for expenses incurred during the plan year beginning Jan. 1 (or as of your effective date of enrollment, if later) through Dec. 31.
For 2020 and 2021, if you end your participation in a Health Care FSA mid-year, reimbursements will be allowed for eligible health care expenses incurred through the end of the calendar year in which your participation ended and reimbursements will be limited to only unused contributions. As a reminder, this is already allowed for Dependent Care FSAs.
Changing Your Election
Typically, you can make your elections when you first become benefits-eligible, during a qualified family status change, or during Open Enrollment each year. Recent COVID-19 relief legislation provides you with the opportunity to change your Health and Dependent Care FSA elections for 2021 without experiencing a qualified family status change. Allowable changes must be made on a prospective basis and include new elections, as well as increases or decreases to existing FSA elections.
If an election is made to reduce your Health Care FSA contribution, the reduced contribution must be no less than the claims that have already been reimbursed or approved for reimbursement. If you wish to make a change to your 2021 FSA election or have any questions, please contact HR Shared Services at 315.443.4042.
Contact HealthEquity/WageWorks at 877.924.3967 (TTY: 866.353.8058) or HR Shared Services at 315.443.4042 should you have any questions on these benefits or the new COVID-19 relief legislation and how it may apply to you.
Types of Flexible Spending Accounts
- All About Health Care FSAs
- All About Dependent Care FSAs
- Searchable List of Eligible Health Care Expenses
- Searchable List of Eligible Dependent Care Expenses
Interactive FSA Tax Savings Calculators
Important FSA Forms
- Letter of Medical Necessity [PDF]
- Health Care FSA, Paper Claim Form [PDF]
- Dependent Care FSA, Paper Claim Form [PDF]
Every effort has been made to ensure that the information contained within this website is accurate. However, benefits are governed by legal documents (which, in certain circumstances, may include insurance contracts). If there is any difference between the information in this website and the official documents, the official documents will control. As is the case with all of Syracuse University’s employee benefit plans, the University reserves the right to modify or terminate these benefits at any time.