Flexible Spending Account (FSA)
Contact
Human Resources77 Macalester Street, Room 201 651-696-6280
651-696-6612 (fax)
hr@macalester.edu
twitter linkedin
Hours
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.
Participants with a Flexible Spending Account (FSA) for Dependent Care, Health Care or Limited Health Care reimbursements were notified by our current FSA vendor, HR Simplified, that effective May 1, 2024, they will be rebranded with a new vendor name of Chard Snyder, a WEX company You should have received this email notification from HR Simplified notifying you of this change and the associated timelines. This is a legitimate email and you should review it in detail, to ensure you are aware of the integration timelines and changes to your account.
It is very important that you log in to your current HR Simplified account to verify that your email address, home address, and phone number are valid and update anything that is not accurate, so that HR Simplified can communicate with you about the transition.
You can also contact HR Simplified with account issues/questions via email or phone at 888-318-7472.
-
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.
Participants with a Flexible Spending Account (FSA) for Dependent Care, Health Care or Limited Health Care reimbursements were notified by our current FSA vendor, HR Simplified, that effective May 1, 2024, they will be rebranded with a new vendor name of Chard Snyder, a WEX company You should have received this email notification from HR Simplified notifying you of this change and the associated timelines. This is a legitimate email and you should review it in detail, to ensure you are aware of the integration timelines and changes to your account. It is very important that you log in to your current HR Simplified account to verify that your email address, home address, and phone number are valid and update anything that is not accurate, so that HR Simplified can communicate with you about the transition.
You can also contact HR Simplified with account issues/questions via email or phone at 888-318-7472.
-
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. This type of account has a use-it-or-lose-it structure associated with it.
Annual Contribution Limits
2024: You can contribute up to $3,200 pre-tax dollars to use towards eligible health, dental, and vision expenses.
Annual Rollover Amount
2024: The health care reimbursement FSA does allow for a $640 annual roll-over. This means any remaining funds over $640 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. This type of account has a use-it-or-lose-it structure associated with it.
Annual Contribution Limits
2024: You can contribute up to $3,200 pre-tax dollars to use towards eligible dental and vision expenses.
Annual Rollover Amount
2024: The limited health care reimbursement FSA does allow for a $640 annual roll-over. This means any remaining funds over $640 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. Reimbursable expenses must be for services dated between the 1st of the year and your termination date. Expenses incurred after your termination date do not qualify for reimbursement.
-
Resources Contact Information for HR Simplified
- Website: hrsimplified.com
- HR Simplified Customer Service Number: 1-888-318-7472 (Toll Free)
Monday-Thursday from 7 am – 7 pm and Friday from 7 am – 5 pm (central time) - Email at [email protected]
Dependent Care FSA Resources
- 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)
- Video – What is a Dependent Care Flexible Spending Account
Healthcare & Limited Healthcare FSA Resources
- FAQ: Health Care Flexible Spending Account (PDF)
- FAQ: Limited Health Care Flexible Spending Account (PDF)
- Video – What is a Healthcare Flexible Spending Account
- Video – What is a Limited Healthcare Flexible Spending Account
- FSA Store – Eligibility List
- FSA – Eligible Expense List (PDF)
- FAQ: FSA Debit Card (PDF)
- FAQ: HSA & FSA Comparison
- FAQ: $500 FSA Rollover (PDF)
Online Portal and Mobile App Resources
- FSA – Online User Guide (PDF)
- FSA – Mobile App User Guide (PDF)
- FSA – Mobile Text Messaging Set-Up (PDF)
Forms
HR Simplified is going green as much as possible and would prefer participants use the online portal and mobile app to submit claims and request a debit card, but they have made the paper forms available.
- FSA – Claim Form – Healthcare FSA (PDF)
- FSA – Claim Form – Limited Healthcare FSA (PDF)
- FSA – Claim Form – Dependent Care (PDF)
- FSA – Debit Card Request Form (PDF)
- FSA – Rollover Opt Out Form (PDF)
-
Plan Documents