How Flexible Spending Accounts Work
Participation in these accounts is optional. You decide if you want to participate in one or both spending accounts. If you decide to participate:
Contribution Limits
Most employees can deposit between $120 and $5,000 per year ($10 and $416 a month if you are paid over 12 months) in the DCFSA. However, your maximum contribution will be less if either of the following IRS restrictions apply to you:
Submitting HCFSA Claims
When you have an eligible bill (for example, a bill for an eye exam and contact lenses in excess of what is covered by your vision plan), you are able to access the funds in your account in three different ways:
For employees enrolled in medical, prescription and dental plans offered by Kent State University, automatic submission is an available option for the Health Care Flexible Spending Account. When an eligible claim is processed through the insurance provider, the claims system will automatically check to see if the employee is maintaining a Health Care Flexible Spending Account. If so, a reimbursement claim will be generated for any co-payments or deductible amounts according to current guidelines.
If you would like your claims automatically submitted to your HCFSA, please be sure to check the appropriate line on the enrollment form.
Submitting DCFSA Claims
When you have an eligible bill (for example, a bill for childcare expenses), you are able to access the funds in your account in two different ways: