Flexible Spending Account (FSA)

2023 Flexible Spending Account Information

NEW – 2023 Flexible Spending Arrangements –

As a reminder, Albion College has partnered with P&A Group for the administration of our Flexible Spending Account Benefit beginning 1/1/2023.  You have likely already begun receiving digital and physical correspondence from P&A Group regarding your FSA account(s).  If you have not received your FSA debit card in the mail or an email telling you how to set-up and access your online account, please reach out to Todd Shayler (tmshayler@albion.edu) immediately.  All other correspondence directly related to your FSA account(s) should be directed to P&A Group Customer Service Monday through Friday 8:30 AM – 10:00 PM ET at (716) 852-2611 or through Online Customer Support.

To access your P&A account: Visit www.padmin.com.  Select User Type: Participant and Account Type: Reimbursement Account.  Click Login.  If you have not previously registered a username and password, Click on “First time logging in?  Sign up here” and follow the prompts to create your account.  Otherwise, enter your Username and Password and click Submit.

To Order Additional Debit Cards:  Once logged into your account, under Quick Links, click on “Benefits Card Order Form” and select the reason for your order request.  You can order additional cards for 1) Lost cards (which cancels selected cards previously issued); 2) Stolen cards (which cancels selected cards previously issued); or 3) Request additional dependent card (which allows you to order additional cards for a spouse or dependent(s) who are over the age of 18).

Health Care FSAs
You can contribute a minimum of $120 up to a maximum of $3,050 per calendar year to your Health Care FSA.

Dependent Care FSAs
You can contribute a minimum of $120 up to $5,000 each calendar year to your Dependent Care FSA.

What is an FSA?
A Flexible Spending Account (FSA) allows you to put aside a set amount of money from your paychecks before taxes to pay for certain specific health care or dependent care expenses, which lowers your taxable income.

What is the main advantage of an FSA?
The main advantage of an FSA is the tax savings it offers. An FSA enables you to pay for eligible out-of-pocket expenses with money you set aside from your pay before any taxes are taken out. Without an FSA, you would still pay for these expenses, but you would do so using money remaining in your paycheck after taxes are withheld.

What is the difference between a Health Care FSA and a Dependent Care FSA?

• Health Care FSAs cover eligible health-related expenses for you and your dependents that are not covered or reimbursed by your health plan, dental plan, vision plan, or any other type of insurance.
• Dependent Care FSAs are used to pay for eligible child care expenses for children under age 13, or day care for anyone who you claim as a dependent on your Federal tax return who is physically or mentally incapable of self-care, so you and your spouse work (or if your spouse is a full-time student or disabled).The Dependent Care FSA is not for health care expenses for your dependents.

Eligible Health Care Expenses

• Personal protective equipment (PPE), March 31, 2021 update: The IRS released Announcement 2021-7 confirming the purchase of personal protective equipment (PPE), such as face masks, hand sanitizer and sanitizing wipes, are qualified medical expenses if used for the primary purpose of preventing the spread of coronavirus. Expenses incurred on or after January 1, 2020 can be reimbursed by a Health Care FSA.
• COVID-19 home test kids
• Co-pays
• Co-insurance
• Vision care (e.g. exams, glasses, contacts, solutions)
• Hearing aids
• Prescription drugs
• Menstrual products
• Mental Health Care
• Laboratory tests
• And more!

Open Enrollment
Open Enrollment for 2023 is November 16, 2022 – December 05, 2022. Open Enrollment is a time when new and returning participants must enroll for the next calendar year. If you are unsure if a flexible spending arrangement is for you, please contact Human Resources at (517) 629-0205 or hr@albion.edu or try the FSA Calculator Estimator.

HSA participants are now eligible to enroll in a Limited Purpose FSA.  See Summary Plan Document for more information

You may elect salary reduction (pre-tax) for either of the options listed that apply to you: non-insured medical expenses & dependent care expenses. You must use all monies in your account or forfeit them at the end of the year. Please note, there is a two-and-a-half month grace period to use prior year funds.  You must sign up for this program each year you want to participate.

Effective January 2023, Albion College will partner with P&A Group to administer our FSA accounts.  Your contributions will still be via pre-tax payroll deduction.  You will receive a debit card to use for making eligible payments.  And you will have real-time access to information through a secure web portal including election amount, available balance, and claims submitted/paid/pending.

Remaining 2022 claims must be turned in by the deadline date (see chart on right side of page or the Flexible Spending Account Dates g-calendar) and payments will occur on the check date listed through your bank account on file with the Payroll Office. There may be some changes to this schedule and you will be given advance notice of any changes.

Please view the participant guide for participation and reimbursement details.

Please contact Human Resources (hr@albion.edu) or 517/629-0205 with questions.

2022-2023 Dates:

Forms:

Summary Plan Documents
Flex Enrollment Form
Flex Reimbursement Form Day Care
Flex Reimbursement Form Medical
FSA Store (Learn more about eligible expenses)