Flexible Spending Accounts (FSA)
The University of ÐÓ°ÉÔ°æ partners with ASIFlex to provide three FSAs to UA ÐÓ°ÉÔ°æs including a Health Care FSA, Dependent Care FSA, and Limited Purpose FSA. These are all use-it-or-lose-it meaning funds must be used in the fiscal year/plan year they are elected.
Flexible Spending Accounts (FSA) Enrollment
- Benefit-eligible ÐÓ°ÉÔ°æs working a minimum of 20 hours per week
- Temporary Employees are not eligible (visit the temporary ÐÓ°ÉÔ°æ webpage for eligible benefits)
New Benefit-eligible Employees
- Review the new ÐÓ°ÉÔ°æ webpage
- 30 day deadline from hire date to enroll or opt out
- If no new ÐÓ°ÉÔ°æ form submitted, the ÐÓ°ÉÔ°æ will not be enrolled in an FSA
Current Benefit-eligible Employees - Life Event
- Review the qualifying life events page
- 30 day deadline from live event (60 days for birth or adoption)
- Late forms not accepted
Coverage Begin Dates
New Employees - First Day Coverage
- Submit form by 5:00pm on the Thursday prior to the end of their first pay period
- If submitted later but within the 30 day requirement, coverage begins on the first day of the pay period the form is submitted
Current Employee - Day of Life Event
- Submit form on or before the day of the event
- If submitted after the day of the event but within the 30 day requirement (60 for birth/adoption), coverage begins on the day the forms is submitted
Coverage End Dates
- Coverage will end at the end of the pay period in which an ÐÓ°ÉÔ°æ (1) separates from the University or (2) ends coverage due to a life event
- Every ÐÓ°ÉÔ°æ is on a 26 pay period (12 month) deduction schedule for their benefits
- Employees who work less than 26 pay periods in a fiscal year (9, 10, and 11-month ÐÓ°ÉÔ°æs) will accrue arrears on missed deductions during the time they are off-contract or otherwise experiencing leave without pay
- Review the FAQ below to understand what arrears are and how they apply
- Health Care and Limited Purpose FSAs have arrears
- Dependent Care FSA does not have arrears
Viewing the Arrears Balance 1. What are arrears? 2. Who do arrears apply to? Employees who are off contract Leave without pay 3. What deductions require arrears? 4. What deductions do not require arrears? 100% Schedule for Specific Benefits Example 40% Schedule fo Specific Benefits Example This ÐÓ°ÉÔ°æ goes off contract for 4 pay periods. This means the ÐÓ°ÉÔ°æ would pay: The arrears balance will be paid off in 10 pay periods. At that time, the deduction
will return to $389.31 per pay period.
Employees can view arrears balance at any time on by clicking on "Employee Service" > "Benefits & Deductions" > "Arrears Balance."
Arrears are missed deductions. For example: An ÐÓ°ÉÔ°æ who is off-contract and not
receiving pay will not have deductions collected from their $0.00 paycheck. When an
ÐÓ°ÉÔ°æ returns to work and begins receiving pay again, the deductions will restart
and the arrears balance will begin to be repaid in the specific amounts listed in
the "how are arrears repaid" drop down menu below.
Arrears apply to any ÐÓ°ÉÔ°æ who has active deductions that require arrears and that ÐÓ°ÉÔ°æ experiences a pay period where they do not receive pay.
Employees who are in an off contract status are not receiving pay. This will generate
arrears for their missed deductions during the pay periods where an ÐÓ°ÉÔ°æ was off
contract. When an ÐÓ°ÉÔ°æ returns back to an on contract status, they will begin
paying for their deductions again, including any arrears that need to be paid off.
Employees who experience leave without pay in excess of 10 days must reach out to ua-benefits@alaska.edu to discuss the potential for Family Medical Leave (FML), Short-term Disability (STD),
and other benefits that might apply to a specific situation. Some cases - such as
an approved Leave of Absence - will be a COBRA event. Specific situations can be reviewed
with individual ÐÓ°ÉÔ°æs.
5. How are arrears repaid?
Arrears will be paid biweekly when the ÐÓ°ÉÔ°æ returns to work at a rate of 100% of the current deduction(s) until the arrears balance is paid. This means that the ÐÓ°ÉÔ°æ will pay 200% of the
biweekly deduction until the arrears balance is paid off. The deductions paid on the
100% schedule are:
An ÐÓ°ÉÔ°æ is currently contributing to a HC FSA at $100 per pay period.
This ÐÓ°ÉÔ°æ goes off contract for 4 pay periods.
This means that the ÐÓ°ÉÔ°æ has missed $100 x 4 ($400) deductions for their HC FSA.
When the ÐÓ°ÉÔ°æ returns to work, the ÐÓ°ÉÔ°æ will pay $100 for their deduction
and $100 toward the arrears balance ($200 deduction in total).
The arrears balance will be paid off in 4 pay periods. At that time, the deduction
will return to $100 per pay period.
Arrears will be paid biweekly when the ÐÓ°ÉÔ°æ returns to work at a rate of 40% of the current deduction(s) until the arrears balance is paid. This means that the ÐÓ°ÉÔ°æ will pay 140% of the
biweekly deduction until the arrears balance is paid off. The deductions paid on the
40% schedule are:
An ÐÓ°ÉÔ°æ is currently enrolled in premium medical, premium dental, and vision for
ÐÓ°ÉÔ°æ, spouse, and 2 dependent children. The ÐÓ°ÉÔ°æs current biweekly deduction for
these coverages is:
This means that the ÐÓ°ÉÔ°æ has missed $389.31 x 4 ($1,557.24) deductions for their
coverages.
When the ÐÓ°ÉÔ°æ returns to work, the ÐÓ°ÉÔ°æ will pay $389.31 for their deductions
and 40% of each of their deductions toward the arrears balance:
FSA Plan Basics
Health Care FSA
Maximum Contributions
$3,200 from July 1, 2024 - June 30, 2025
Limited Use
- Lower taxes by setting aside portion of income pre-tax
- Covers medical, prescription, dental, and vision out-of-pocket expenses only
Plan Compatibility
Compatible
- Premium & Basic Medical, HDHP
- Premium & Basic Dental
- Vision
- Dependent Care FSA
Incompatible
- Health Savings Account (HSA)
- Limited Purpose FSA
Limited Purpose FSA
Maximum Contributions
$3,200 from July 1, 2024 - June 30, 2025
Limited Use
- Lower taxes by setting aside portion of income pre-tax
- Covers dental and vision expenses only
- Must be enrolled in a UA Health Savings Account (HSA) to enroll in a LP FSA
Plan Compatibility
Required
- Health Savings Account (HSA)
Compatible
- HDHP
- Premium & Basic Dental
- Vision
- Dependent Care FSA
- Health Savings Account (HSA)
Incompatible
- Health Care FSA
Dependent Care FSA
Maximum Contributions
$5,000 from July 1, 2024 - June 30, 2025
Limited Use
- Lower taxes by setting aside portion of income pre-tax
- Covers daycare expenses only
- Children must be under 13 years old
Plan Compatibility
Compatible
- Premium & Basic Medical, HDHP
- Premium & Basic Dental
- Vision
- Health Care FSA
- Limited Purpose FSA
- Health Savings Account (HSA)
Incompatible
- None
Biweekly rates are based on the ÐÓ°ÉÔ°æ's election.
1-800-659-3035
- Having issues logging into the AsiFlex portal?
- Wanting to understand what is considered a qualified expense?
1-866-486-8242 | assist@touchcare.com
- Comparing UA medical plans for the best option medically/financially
- Price comparisons for services (like an x-ray)
- Assistance with medical billing - general questions on bills, advocacy with Premera on incorrect bills, etc.
UA Benefits Team
- ua-benefits@alaska.edu
- (907) 450-8242
- Meet with Us
FSA Plan Details
Automatically Generated for Health Care and Limited Purpose FSAs
- Mailed out automatically
- No debit card option for Dependent Care FSA. Employees request reimbursement online on .
Health Care and Limited Purpose FSA - All Funds Front Loaded
- Full amount provided on day 1 of coverage
- Can use the full amount even if the ÐÓ°ÉÔ°æ has not contributed that much via payroll deduction
Dependent Care FSA - Funds Available as Payroll Deposits
- Funds only available after each payroll deduction
- Employee can only use the funds they have deposited up to that point in time
Debit Card or Online Reimbursement Request
- Can use the debit card for charges against the Health Care and Limited Purpose FSA
- Can request reimbursement against any FSA online
Must be able to Substantiate Each Charge
Funds Cannot Be Accessed after June 30
This is an IRS regulation on all Flexible Spending Accounts (FSA).
- Must use the funds in the plan year they are set aside in (July 1 - June 30)
- No rollover/carry over of unused funds
- No access after June 30 of the plan year
Can Submit for Reimbursement Until September 30
- Must be for services rendered on or before June 30 of the plan year
Cannot Use Funds on FIPs
- Funds can be use for tax-qualified dependents
- Funds cannot be used for non-tax-qualified dependents (i.e. FIPs and children of FIPs who have not been officially adopted)
Deposits Made Biweekly
- UA pays 2 weeks in arrears
- Contributions are deposited with each biweekly paycheck
- It is common to expect a small delay for the initial deposit before ASIFlex receives an ÐÓ°ÉÔ°æ's first deposit (up to 4 weeks since UA pays 2 weeks in arrears)
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COBRA External Resources |