Flexible Spending Account (FSA)
77 Macalester Street, Room 201 651-696-6280
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.
Dependent Care Reimbursement Account (FSA)
Macalester employees with an FTE of 0.50 or greater are eligible to enroll in our Dependent Care FSA. This account lets you set aside up to $5,000 per year per household for child care of dependent children 12 years or younger.
You can use your FSA dollars for daycare, early morning programming, and after school programs with child care centers, nurseries, preschools, afterschool programs, summer day camps, and in-home nannies.
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.
- 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.
- Visit hrsimplified.com
- Call HR Simplified Customer Service at 1-888-318-7472 (Toll Free)
Monday-Thursday from 7 a.m. – 7 p.m. (central time), Friday from 7 a.m. – 5 p.m. (central time)
- Email at [email protected]
- FAQ: HSA & FSA Comparison
- FAQ: Health Care Flexible Spending Account (PDF)
- FAQ: Limited Health Care Flexible Spending Account (PDF)
- FAQ: Dependent Care Flexible Spending Account (PDF)
- FAQ: Dependent Care Flexible Spending Account – Debit Card (PDF)
- FAQ: Dependent Care Flexible Spending Account – Manual Claims (PDF)
- FAQ: FSA Debit Card (PDF)
- FAQ: $500 FSA Rollover (PDF)
- FSA – Eligible Expense List (PDF)
- FSA – Online User Guide (PDF)
- FSA – Mobile App User Guide (PDF)
- FSA – Mobile Text Messaging Set-Up (PDF)
- Qualified Medical Expense Tool
- Video – What is a Flexible Spending Account
- Video – What is a Dependent Care Flexible Spending Account
- Video – How my FSA Debit Card Works