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Human Resources  |  Benefits  |  Flexible Spending Account (FSA)

Flexible Spending Account (FSA)

Features

  • Allows you to set aside part of your paycheck to reimburse yourself for qualified expenses.
  • Deduction is on a pre-tax basis (which should reduce your federal, state, and social security taxes).
  • Reimbursements to you are not taxable.
  • SHDR must receive FSA claims for reimbursement by May 31 for the prior calendar year.

UNM offers two flexible spending accounts, and you may enroll in one or both. For more information about FSA, please read the FSA Plan Participant Booklet.

Medical Reimbursement Account

The Medical Reimbursement Account reimburses you for certain medical, dental, vision, prescription, and hearing care expenses that are not covered by any insurance plan for you and your eligible dependents as outlined in IRS guidelines.

The maximum you may contribute annually is $5,000.

Click here for expenses that may be reimbursed.

Dependent Care Spending Account

The Dependent Care Spending Account reimburses you for dependent care expenses at a licensed facility for services provided by individuals (see regulations for restrictions), dependent care centers, and other qualified care expenses as defined by the IRS.

You may contribute up to $5,000 of your annual salary if you are married and filing a joint return, or if you are single. If you are married and filing separate tax returns, you may contribute a maximum of $2,500. If your spouse's employer offers FSA, he or she may also contribute up to $2,500 annually. However, the maximum allowable contribution per household is $5,000.

To be eligible for reimbursement, expenses must be incurred in caring for a "qualified individual."

For a definition of qualified individuals, as well as qualified expenses, please click here

Flexible Convenience Card

The Flexible Convenience Card, "Flex Card", enables employees to use the debit card wherever MasterCard or Visa are accepted from physician and dental offices to pharmacies and vision service locations.

Approved expenses are automatically deducted from your medical flexible spending account and/or dependent care accounts.

Other benefits include:

  • Access to real-time account balance information via the Internet.
  • Virtual elimination of claim forms.
  • Elimination of wait time for reimbursement.

For more information, click here.

Note: You still need to keep receipts as the FSA administrator may require you to provide receipts to ensure purchases were for eligible items.

FSA Forms

Flexible Spending Account (FSA) Forms
FSA - Dependent Care Enrollment
FSA - Medical & Dependent Care Claims
FSA - Medical Determination Form
FSA - Medical Reimbursement Enrollment
Request Benefit Access Cards Form

FSA Contact Information

For additional information or questions, please contact Stanley, Hunt, DuPree & Rhine at:
(800) 768-4873
(800) 930-2441
Or visit http://shdr.com/