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A Flexible Spending Account allows you to reduce your take-home pay by an amount determined by you each Open Enrollment. The FSA will shelter these earnings from taxes in order to allow you to pay for approved medical, transit and/or dependent care expenses tax-free.

Deadline Reminder

The services or expenses that you are claiming for a flex account must occur between April 1 through March 31. Employees have until June 30 to submit claims for the prior plan year.

Employee Funded HealthCare Flexible Spending Account

A Healthcare Flexible Spending Account (FSA) is a pre-tax benefit account used to pay for eligible healthcare, dental, and vision care expenses that aren't covered by your insurance plan or elsewhere. For our current plan year (April 1, 2023 – March 31, 2024) you may reduce your earnings up to $3,050* to pay for eligible expenses.

The services or expenses that you are claiming for a flexible spending account must occur between April 1 through March 31. Employees have until June 30 to submit claims for the prior plan year.

Any unused funds, up to $610*, will carry over to a new healthcare flexible spending account for the next plan year. Any funds in excess of the carryover limit will still be subject to the “use it or lose it” rule.

Example

Meredith set aside $2,700 in a flexible spending account to cover healthcare expenses for herself and her two daughters during the plan year. For a variety of reasons, her healthcare expenses are much lower than she anticipated and by March 31 she has only $2,000 worth of eligible expenses. In this scenario, Meredith will be able to carry over $610* into a new healthcare flexible spending account to reimburse eligible expenses incurred in the next benefit year and she will forfeit $90.

 

*Plan limits are established by the IRS annually.

Benefits Eligibility

Available to employees who work at least 60% of a full-time schedule annually.

Contact Information

Claims Address

TASC
ATTN: Claims
2302 International Lane
Madison, WI 53704-3140

Willamette University

Human Resources

Address
University Services Building
Willamette University
900 State Street
Salem Oregon 97301 U.S.A.
Phone
503-370-6210 voice
503-370-6570 fax