Flexible Spending Accounts (FSAs)
Summary
Available to full-time permanent employees including temporary faculty employed for a one-academic year contract, and permanent part-time employees including temporary faculty employed for a one-academic year contract who works 50% time.
Flexible spending accounts (FSAs) governed by the IRS Code, allows employees to have income withheld from their paychecks before taxes for eventual reimbursement of certain medical and dependent care expenses.
- Fringe Benefits Management Company (FBMC) is the new Flexible Spending Account administrator for PASSHE. For more information about FBMC or your FSA, please visit www.myFBMC.com or call Customer Care at 1-866-836-9945, Monday - Friday, 7 a.m. to 10 p.m., EST.
- Medical Reimbursement Account – Employees enrolled in the medical reimbursement account estimate the amount of out-of-pocket medical expenses they will incur during the calendar year and use that amount to determine bi-weekly payroll deductions from their checks. The maximum annual contribution amount that can be made to a medical reimbursement account is $3,500.
- Dependent Care Reimbursement Account - Employees enrolled in the dependent care reimbursement account estimate the amount of dependent care expenses they will incur during the calendar year and use that amount to determine bi-weekly payroll deductions from their checks. The maximum annual contribution amount that can be made to a dependent care reimbursement account is $5,000.
Overview:
Forms:
NOTE: Effective January 1, 2010 all claims for reimbursement from either your 2009 or 2010 FSA balance should be submitted to FBMC for processing.
Reimbursement forms must be submitted to FBMC either via mail or fax to the following:
FBMC
P.O. Box 1860
Tallahassee FL 32302-1860
OR
Toll-free Fax to: 1-866-923-6317