Faculty and staff are reminded that their current flexible spending account (FSA) elections for health care and/or dependent care expenses will expire on Dec. 31, 2010. Those who plan to participate in flexible spending for 2011 will need to re-enroll using ESSIC, the Employee Self Service Information Center, at http://essic.ohr.psu.edu/ online. The open enrollment period is Nov. 1 through Nov. 19, 2010.
Employees who have funds remaining in their 2010 health care flexible spending account can reimburse themselves for eligible out-of-pocket expenses that they incur from Jan. 1, 2010 through March 15, 2011. It is important to note, however, that recent legislation affects reimbursements for over-the-counter medications, such as aspirin and other pain relievers as well as over-the-counter allergy medications, such as Zyrtec and Clairtin. Over-the-counter medications are reimbursable if purchased on or before Dec. 31, 2010. After that date, employees will need a prescription to pay for over-the-counter medications from a flexible spending account. The minimum contribution to a healthcare FSA for 2011 is $10 per month ($120 per year) and the maximum is $666.66 per month ($8,000 per year).
Reimbursable dependent day care expenses for 2010 must be incurred between Jan. 1 and Dec. 31, 2010. The minimum contribution to a dependent day care FSA for 2011 is $10 per month ($120 per year) and the maximum is $416.66 per month ($5,000 per year). This amount is a per family limit regardless of the number of dependents.
Reimbursements are processed daily in the Employee Benefits Division office and are directly deposited into employee bank accounts. Employees can check their FSA balance through ESSIC.