New York State Flexible Spending Account
Please look carefully at these programs. Many, if not all, employees could save money by enrolling in one of these plans. Please read the information below and carefully consider if this plan is applicable to your life situation.
Please keep in mind you must use all monies by December 31st of the plan year or you forfeit those monies. As such, you do not want to put in more money than you can claim.
The Dependent Care Advantage Account (DCAAccount) can save State employees who participate, hundreds of dollars on their dependent care expenses. Contributions can be used to cover summer day camp, nursery school, child care center, or adult day care costs.
The Health Care Spending Account (HCSAccount) can save money spent on health care services for your family that are not reimbursed by your health insurance plan. The Health Care Spending Account, like the Dependent Care Advantage Account, is an easy-to-use program that lets you contribute pre-tax dollars through automatic payroll deductions into your reimbursement account.
The Adoption Advantage Account lets you pay for expenses related to the adoption of an eligible child with pre-tax dollars.
*Important Note: You must use all monies by December 31st of the plan year or you forfeit those monies. As such, you do not want to put in more money than you can claim.
- In order to enroll in both, you must complete two separate transactions.
- Money from one account may not be used to cover eligible expenses from the other account.
- Over the counter medications are now eligible expenses!
- For a full listing of covered and ineligible expenses please visit http://www.flexspend.ny.gov
Employees are eligible if they are expected to be employed for the entire calendar year, are paid bi-weekly, work half-time or more and are eligible for health insurance coverage (although you do not have to be enrolled in health coverage through Farmingdale State College).
Special allowances are made for some UUP employees, both teaching and non-teaching professional employees. If you are hired on a semester by semester basis or on a temporary appointment and expect that appointment to be renewed AND you are eligible to enroll in health insurance, you may be eligible. Please check with Jessica Durso, Benefits Manager, at 631-420-2663 if you have any questions.
Enrolling in the Flex Spending Account is easy. You can submit your application online, or call 1-800-358-7202 and a Customer Service Representative will take your application. The process is quick, easy, and secure.
The Flex Spending Account offers other customer-friendly services such as direct deposit of authorized reimbursements into your bank account. You can reduce claims processing time by faxing reimbursement request forms to the Flex Spending Account Administrator. This feature will give you prompt access to your funds by eliminating mail time. You can check your account balances at any time online or by using a voice-response system. The usual turn around time for reimbursement is around two weeks.
Please visit the web link http://www.flexspend.ny.gov for further details and enrollment information