{"id":18309,"date":"2023-07-10T08:30:38","date_gmt":"2023-07-10T15:30:38","guid":{"rendered":"https:\/\/in.nau.edu\/human-resources\/?page_id=18309"},"modified":"2023-07-18T09:37:25","modified_gmt":"2023-07-18T16:37:25","slug":"benefits-faqs-flexible-spending-accounts","status":"publish","type":"page","link":"https:\/\/in.nau.edu\/human-resources\/benefits-faqs-flexible-spending-accounts\/","title":{"rendered":"Benefits – FAQs Flexible Spending Accounts"},"content":{"rendered":"

Flexible Spending Account FAQs<\/div><\/div><\/h1>\n

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General<\/strong><\/em><\/h2>\n\n
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What is a Flexible Spending Account (FSA) Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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A Flexible Spending Account (FSA) is a special account you put money into that you use to pay for eligible out-of-pocket health care or dependent\\daycare costs<\/strong>. You don’t pay taxes on this money. This means you’ll save an amount equal to the taxes you would have paid on the money you set aside.<\/p>\n

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Does NAU contribute or match my FSA? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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No, NAU does not contribute or match your FSA contributions.<\/p>\n

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How do I find out what expenses I can pay from my FSA? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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You can review a list on eligible expenses on the ASIFLEX website.<\/a><\/p>\n

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Can I change my contribution amount during the year? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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No, you are not able to change your contribution throughout the year unless you have a Qualified Life Event such as the birth of a child or marriage.<\/p>\n

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Health Care FSA<\/strong><\/em><\/h2>\n\n
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Can I have a Health Care Savings Account (HSA) and a Health Care Flexible Spending Account (FSA)? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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If you are contributing to an HSA you can only enroll in a Limited Purchase Health Care FSA. Funds can only be used for eligible dental and vision benefits.<\/p>\n

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How much can I contribute each year to my Health Care FSA? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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  1. For 2023 you can contribute up to $3,050.<\/li>\n<\/ol>\n

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    When are the funds available for use in my Health Care FSA? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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    The funds are available to use after your first contribution. You will make contributions over the course of the year, but funds are available right away.<\/p>\n

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    How do I get a Debit Card for the Health Care FSA? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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    You must request a debit card from the FSA administrator ASIFlex directly. Visit the ASIFlex website<\/a> for more information.<\/p>\n

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    How am I reimbursed for eligible Health care expenses if I do not have the debit card? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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    You can use your account through the ASI portal www.asiflex.com<\/a> to submit a claim with your itemized receipts.<\/p>\n

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    What if I do not use all the funds in my Health Care FSA by the end of the year? Accordion Closed<\/span><\/h4>\n <\/span>\n <\/div>\n <\/a>\n
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    The IRS has a strict ‘Use-It or Lose-It” rule for FSAs.<\/p>\n