Flexible Spending Accounts
Flexible spending accounts (FSAs) help you stretch your budget for health care and dependent care expenses by paying for eligible expenses with tax-free dollars. The FSAs are administered by Voya. You can call Voya customer service at 833-232-4673 and access tools, resources, and forms at the Voya website.
The Limited FSA lets you use pre-tax dollars to pay for eligible dental and vision expenses as well as medical expenses you incur after you have met your full family medical plan deductible.
For participants in a non-CMSU medical plan that does not have an annual deductible: The LFSA will only reimburse you for eligible dental and vision expenses. Please plan accordingly when you enroll in the plan.
You may contribute up to $3,300 per year to the Limited FSA.
Eligible expenses
Eligible expenses are those you incur for yourself or anyone you claim on your tax return as a dependent. Your dependents do not have to be covered under Company dental and vision plans to be eligible.
Examples of eligible expenses include, but are not limited to:
- Medical expenses you incur after you have met your full family medical plan deductible (unless you are in a non-Company medical plan that does not have a deductible, such as an HMO—in that case, the LFSA will only reimburse you for eligible dental and vision expenses)
- Dental expenses
- Orthodontia expenses
- Vision expenses for exams and materials, including prescription glasses, contact lenses, and lens cleaning solution
- Laser vision correction
For orthodontia expenses, the Limited FSA may only reimburse for actual services received during the first year of treatment. For example, assume your provider bills you $1,500 up front for a two-year treatment plan in one lump sum and your expenses in the first year are $500. The Limited FSA can only reimburse you $500 in year one and nothing in year two. In this scenario, you would benefit by having your provider bill you over two years as your expenses occur, rather than billing you in advance.
Expenses for cosmetic procedures and treatments are not eligible.
You can be reimbursed for eligible expenses at any time during the year, up to the full annual health care contribution you elected.
The Dependent Care Flexible Spending Account is a tax-advantaged way to pay for eligible dependent/elder care expenses. You may use the Dependent Care FSA to pay for the day care of:
- Your dependent children under the age of 13
- Dependents of any age who are incapable of self-care, live with you at least 8 hours per day, and are claimed as dependents on your income tax return
You may contribute up to $5,000 to the Dependent Care FSA. However, if your spouse has access to a Dependent Care FSA, your total combined contribution may not exceed $5,000. If you are married and file separate tax returns, each spouse may contribute $2,500.
The Dependent Care FSA is a separate account from the Limited FSA; you may not use the Dependent Care FSA to pay for dental or vision expenses or vice versa.
To be eligible, care must be provided while you (and your spouse, if you are married) work, look for work, or attend school full time. If you are on an unpaid leave of absence for longer than two weeks, you may not claim reimbursement for dependent care expenses you incur during your absence.
Eligible expenses include care in your home by an eligible provider or at a licensed facility. You will not be reimbursed for residential or "sleep-away" care, nursing home care, or for babysitting when you are not at work.
The Dependent Care FSA will not cover food, clothing, education (including Kindergarten and higher grades), care during nonworking hours, overnight camp, or care provided by your spouse, parent, or dependent child.
You will be reimbursed from the amount currently in your Dependent Care FSA. If there is not enough money in your account when a claim is submitted, you will receive a partial payment, and then you will be automatically reimbursed for the balance of the claim as you make additional contributions to your account.
How the FSAs work
- Estimate your eligible FSA expenses.
- Make contributions in equal amounts each pay period.
- Incur your expenses. Keep all receipts and Explanation of Benefits (EOBs). If you have a Limited FSA and pay with your FSA debit card, you will not have to file a claim, but Voya may request that you provide your receipt or EOB.
- File for reimbursement for expenses. If you did not use your FSA debit card to pay for Limited FSA expenses and/or you have a Dependent Care FSA, you may submit your claim online by logging in to Voya's website or submit a claim form to Voya. Claim forms can be mailed or faxed to Voya. Claim reimbursements must be for a minimum of $25. Voya will process your claim within three business days.
- Participation does not carry over from year to year. If you want to continue participating in a spending account, you must re-enroll for coverage during Open Enrollment.
Access your FSA information at Voya's member website
Voya's website is a secure and convenient way to access your FSA information:
- Submit claims
- Review your FSA balances
- Check claims status
- View your statements
- Download forms
To access these features, log in Voya's website. If you haven’t registered before, click the “Register” link.
To learn how to get started, navigate the website, manage your accounts, pay for eligible expenses, and report a missing debit card, view the Voya Health Account Quickstart Guide.
- All claims incurred from January 1 through December 31 must be submitted for reimbursement by March 31 of the following year. Money in your Dependent Care FSA after the deadline is forfeited. For the Limited FSA, you may carry over $660 per year.
- You cannot stop or change contributions during the year unless you have a qualified life event.
- Money cannot be transferred between the two spending accounts.
- While you may participate in the FSA and still qualify for a tax credit or deduction, you cannot be reimbursed by the FSA for the same expenses you claim as a tax credit or deduction. You may want to consult a tax advisor to determine what is best for your situation.
- Ongoing participation is not automatic. If you want to continue participating in a spending account, you must re-enroll for coverage during Open Enrollment.
For more information
Log in to Voya's website to access your personal account information
Review the FSA summary plan description for more information about these benefits