Medical center reminds employees 2005 FSA deadline is March 31

February 23, 2006

Flexible Spending Accounts or FSAs are a way to help reduce an individual's out-of-pocket expenses for health care and some other expenses, such as child care. However, unlike dollars placed in a health savings account (HSA) or health reimbursement arrangement (HRA), money in an FSA does not roll over to the following year.

Employees participating in the Penn State Milton S. Hershey Medical Center benefits plan have the option to contribute money into a FSA tax free. These funds may be used to get reimbursed for eligible health-care expenses incurred by employees or their eligible dependents and for approved child-care services. However, unlike an HSA or HRA, monies in an FSA must be used by the end of the plan year. Money in an FSA does not roll over. If the dollars are not used, employees will lose the remaining balance.

The medical center benefits office is reminding employees that the deadline for submission of 2005 Health Care and Dependent Care Flexible Spending Account claims by employees participating in the medical center benefits plan is March 31.

Individuals are reimbursed for out-of-pocket health care and dependent expenses incurred during a plan year by submitting a claim form and the payment receipt to Ceridian, the medical center's third-party administrator for the program.

Examples of eligible health-care expenses include: physician's office co-pays; dental/orthodontia expenses; vision expenses, such as glasses or contacts; prescription drug co-pays; and certain over-the-counter medications.

Employees may fax claims eligible for reimbursement to Ceridian at (877) 488-6454. Claim forms are available on the medical center's internal benefits Web site at http://infonet.hmc.psu.edu/benefits/resources/forms/fsapacket.pdf online. FSA questions may be directed to Ceridian at (877) 799-8820 or the Medical Center Benefits Administration hot line at (717) 531-0003, extension 283700.

(Media Contacts)

Last Updated March 19, 2009