The American Rescue Plan Act has allowed the University to offer eligible faculty and staff an expanded option for managing their 2021 dependent care expenses through their Dependent Care Flexible Spending Account (FSA). Effective immediately, employees have the option to increase their 2021 Dependent Care FSA annual contribution from $5,000 to $10,500 per household, and from $2,500 to $5,250 for individuals filing separately.
This option is in addition to the FSA options previously announced, including the ability to carry over all unused Dependent Care and Health Care FSA funds to the next year and to make mid-year election changes without a qualifying event. Additional details regarding the changes to 2020 and 2021 FSAs can be found on the Human Resources FSA webpages.
To make a change to your Dependent Care FSA contribution for 2021, contact HR Shared Services at 315.443.4042. For any FSA-related questions, contact HealthEquity/WageWorks at 877.924.3967 (TTY: 866.353.8058) or HR Shared Services at 315.443.4042.