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Flexible Spending Account (FSA)

Flexible Spending Accounts (FSAs) are for money you have set aside and earmarked for a particular use.  This money is not taxed, and is accessible as you need it.  You will save money when you use pre-tax dollars to reimburse your eligible health care expenses.  If you enroll in the flexible spending account, your elected contributions will be deducted from your pay and will not be subject to federal income tax, state income tax, or social security (FICA) taxes.  When your taxable income is reduced, your taxes are also reduced.

Macalester employees with a .50 FTE or higher are eligible for coverage.  Certain additional criteria must be met for specific types of FSA enrollment.  Macalester has three different types of FSAs available to our eligible employees.  FSA funds must be spent within a calendar year, with a few exceptions, or the money is forfeited.  Employees must re-enroll annually to continue coverage.

The key to effective use of the flexible spending account is planning.  You must anticipate what your expenses will be for the coming year and set aside enough money to cover them.  You decide how much money you will contribute annually (based on a calendar year) to your account.

  • Important Updates

    There are several new pieces of legislation related to Health and Dependent Care Flexible Spending Accounts to provide greater flexibility for participants.  Macalester has elected to implement the following changes for the 2020 and 2021 plan years:

    Dependent Care Flexible Spending Accounts:

    • Allow an unlimited carryover of unused dependent care flexible spending account funds from calendar year 2020 to 2021 and from calendar year 2021 to 2022.
    • Allow an employee to make up to two changes to their  dependent care flexible spending account elections during calendar year 2021.
    • Permit employees no longer participating in the dependent care flexible spending account during calendar years 2020 and 2021 (i.e. after termination) to receive reimbursement for unused contributions until the end of the current plan year.
    • Increase the maximum age under dependent care flexible spending accounts from 12 to 13 for the 2021 plan year subject to dependent aged out during the pandemic.

    Health/Limited Flexible Spending Accounts:

    • Allow an unlimited carryover of unused health/limited flexible spending account funds from calendar year 2020 to 2021 and from calendar year 2021 to 2022.
    • Allow an employee to make up to two changes to their health/limited flexible spending account elections during calendar year 2021.
    • Permit employees no longer participating in the health/limited flexible spending account during calendar years 2020 and 2021 (i.e. after termination) to receive reimbursement until the end of the current plan year for unused contributions.

    These changes have been programmed into HR Simplified’s (FSA vendor) systems and are available now.  All remaining balances from calendar 2020 have been rolled over to 2021. If you have questions or would like to change your dependent care or health/limited flexible spending account election you can reach out to Jason Dempster at jdempste@macalester.edu or Randi Hartman at rhartman@macalester.edu.

  • Dependent Care Reimbursement Account (FSA)

    This type of account is available to employees on our PPO health plan, or benefit-eligible employees who are not on either of our health plans.  Annually, you can contribute up to $2,500 pre-tax dollars to use towards eligible health, dental, and vision expenses.

    This type of account has a use-it-or-lose-it structure associated with it.  The health care reimbursement FSA does allow for a $500 annual roll-over.  This means any remaining funds over $500 will automatically be forfeited.

  • Health Care Reimbursement Account (FSA)

    This type of account is available to employees on our PPO health plan, or benefit-eligible employees who are not on either of our health plans.  Annually, you can contribute up to $2,500 pre-tax dollars to use towards eligible health, dental, and vision expenses.

    This type of account has a use-it-or-lose-it structure associated with it.  The health care reimbursement FSA does allow for a $500 annual roll-over.  This means any remaining funds over $500 will automatically be forfeited.

  • Limited Health Care Reimbursement Account (FSA)

    This type of account is available to employees on our High Deductible health plan, or benefit-eligible employees who are not on either of our health plans.  Annually, you can contribute up to $2,500 pre-tax dollars to use towards eligible dental and vision expenses.

    This type of account has a use-it-or-lose-it structure associated with it.  The limited health care reimbursement FSA does allow for a $500 annual roll-over.  This means any remaining funds over $500 will automatically be forfeited.

  • Accessing Account and Funds

    To access your account online you will first need to register and create your username and password with HR Simplified.  During your registration process you will be asked for the Employer and Employee ID.  These IDs are provided below for your convenience.

    • Employer ID:  HRSMACAL
    • Employee ID:  Your full Macalester employee ID number

    Once you have established your online account, you will be able to login with the user ID and password you have already created.  Through your online access you can check your account balance, reimbursement activity, and claim status.

    You will be issued a Debit card every three years, and you can use that to directly pay for expenses from your FSA.  You can also use personal funds and then submit a request for reimbursement after the fact.  You can start this request through the online portal.

    All reimbursement claims must be made by March 31st of the following calendar year or within 90 days of your departure from Macalester.

  • Submitting Claims

    • You may use your debit card to directly pay for expenses from your FSA.
    • Manual reimbursements may be submitted online (www.hrsimplified.com). You may access and complete the necessary forms, attach documentation and send it via online, fax, mail or mobile.
    • You must submit claims for reimbursement by March 31 of the following calendar year. However, if you terminate employment you must submit claims for reimbursement within 90 days after your date of termination.

  • Resources
  • Plan Documents
  • Forms