HR

HR

Flexible Spending Accounts

The University offers employees two optional Flexible Spending Accounts (FSAs) which allow participants to use tax-free dollars to pay for qualified medical and dependent care expenses. Employees may enroll in either or both of the plans.

How FLexible Spending Accounts work

A pre-determined amount of money is deducted from the participant's gross pay (before taxes). The dollars are set aside in a special account, from which the participant is reimbursed for known expenses as they occur. The funds are not taxed when earned or when paid as reimbursement to the participant. The participant saves FICA, federal and state income taxes on these expenses.

Important: Funds left in a Flexible Spending Account at year-end are not refundable to the employee according to IRS provisions.

 

The two plans

 

Medical Reimbursement Flexible Spending Account

This plan can be used to pay for out-of-pocket medical expenses that are not covered by health insurance, such as (but not limited to) deductibles and co-pays for medical, prescription, orthodontic, and dental services, as well as medical expenses beyond the limits of insurance coverage. Employees may contribute up to $4,000 per year to the Medical Reimbursement FSA.

Dependent Care Flexible Spending Account

This plan can be used to pay for expenses paid to an eligible care provider of your eligible dependents during your working hours. Eligible dependents are children under age 13 (whom you claim as exemptions for federal tax purposes) and your disabled spouse, parent, or older child whom you claim as a dependent for federal tax purposes. Employees may contribute up to $5,000 per year to the Dependent Care FSA.

Enrollment

Employees may enroll in one or both of the FSA plans upon hire, during open enrollment (usually during Fall semester), or when a qualified change in status occurs (marriage, birth, divorce, etc.).

Forms

The BASIC Flex enrollment booklet, direct deposit form, and claim form are available via the HR Forms Web page.

Need more information?

Please see our list of Frequently Asked Questions, contact your Human Resources Representative, or contact the plan administrator directly:

BASIC
9246 Portage Industrial Drive, Portage, MI 49024
Phone: 1-800-444-1922 or 269 327-1922
Fax: 1-800-391-6562
Email: basic@basicflex.com

 

Human Resources
Western Michigan University
Kalamazoo MI 5217 USA
(269) 387-3620 | (269) 387-3441 Fax
HR-Webmaster@wmich.edu