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Flexible Spending Accounts (FSA)

Flexible Spending Accounts (FSA) are regulated through Section 125 of the Internal Revenue Service. An FSA lets you reduce your eligible medical and dependent care expenses by giving you a tax break on money used to pay for them.

ASI, administers the Public Employees’ Benefits Program‘s FSA plan which is available to active State of Nevada employees only. If you are employed with the University of Nevada system or a non-state governmental agency, please contact your Human Resources or Benefits Department.

ASI, administers the Public Employees’ Benefits Program‘s FSA plan which is available to active State of Nevada employees only. If you are employed with the University of Nevada system or a non-state governmental agency, please contact your Human Resources or Benefits Department.

 

Plan Year 2011 Flexible Spending Account Summary Plan Description


 Flexible Spending Accounts (FSA)

The Flexible Spending Accounts are based on a fiscal year basis. The new plan year begins on July 1st and ends on June 30th of the following year.

Employees who wish to enroll in a flexible spending account should estimate only those reimbursable expenses for services that you anticipate incurring during the plan year (July 1st through June 30th).

Reimbursable expenses must be incurred after you have enrolled in the plan and one deduction has occurred. You must file claims for expenses that you incur during the plan year or grace period by October 31. After that, your account will be closed and any remaining balance will be forfeited by you in accordance with federal regulations.

Grace Period: If you are a participant as of June 30th of a Plan Year, you may continue to incur expenses through September 15th to use any remaining funds in the Plan Year that just ended. Claims for expenses incurred during the Grace Period are paid from the oldest year's funds first unless you request otherwise.

Termination of Employment: Please refer to the FSA Plan Document for reimbursement for expenses incurred prior to termination.

You may also speak with an ASI representative by calling (800)659-3035, or visit the ASI website.

 


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