The University offers a Health Care Flexible Spending Account and a Dependent Care Flexible Spending Account (FSA) administered by EBPA. An FSA enables you to reduce your taxable income by setting aside pre-tax funds to pay for eligible health care and dependent care expenses.

You can only enroll for these accounts during each year's Open Enrollment period or during the eligibility period for new employees or if you have experienced a change in status as defined by the IRS (refer to the Making Changes to Your Elections page for additional information).

Health Care Flexible Spending Account

A Health Care Flexible Spending Account is used to pay for eligible nonreimbursed medical, dental and vision expenses incurred by you and your eligible dependents.* Examples of expenses are plan co-payments, plan deductibles, and prescription eyewear. Over-the-counter medications other than insulin (for example, aspirin, allergy medication) are no longer eligible for reimbursement under your health care FSA unless you obtain a prescription a doctor. For information on eligible over-the-counter expenses refer to the Over-The-Counter Expenses guide (PDF). For information on eligible health care flexible spending account expenses, refer to the list of IRS eligible expenses (PDF).

NOTE: Employees enrolled in the High Deductible Health Plan with Health Savings Account may not elect a Health Care Flexible Spending Account.

* Per IRS regulations, you may not contribute to a Health Care Flexible Spending Account to pay for your domestic partner's or your same-sex spouse's health care expenses.

Dependent Care Flexible Spending Account

A Dependent Care Flexible Spending Account pays for incurred eligible child care expenses (up to attainment of age 13). It may also be used to pay eligible adult dependent care expenses for any dependent living with you who is physically or mentally unable to to care of him or herself and whom you claim as a dependent for tax purposes. Examples of eligible expenses include daycare centers, in-home dependent care, nursery school, or adult daycare expenses. The expenses must be necessary to enable one or both parents to work, look for employment, or go to school on a full-time basis. For information on eligible dependent care flexible spending account expenses, refer to the list of IRS eligible expenses (PDF).

How the FSA Plan Works

You set aside money from each paycheck to be directed to a Health Care and/or Dependent Care FSA. How much you choose to contribute depends on the amount of the expenses you anticipate you will incur from the date your enrollment in the plan is effective through December 31 of the current calendar year. The money set aside is deducted from your paycheck on a pre-tax basis, which lowers your taxable income. Once enrolled, you will be issued a benefits card from EBPA with a MasterCard logo which can be used to pay for eligible expenses at the point of purchase. Once you enroll you may view your account transactions by logging into www.ebpabenefits.com or calling EBPA's members' services department at 888.678.3457. You may request an additional benefits card for your spouse (as defined by the IRS) by completing the Additional Benefits Card Request Form (PDF) and submitting it directly to EBPA.

If you choose to contribute to the Health Care or Dependent Care FSA, annual minimum and maximum elections apply:

*The maximum is $2,500 if you are married and filing a separate return.

If you pay for FSA eligible expenses out-of-pocket instead of using your benefits card, print and complete an FSA Reimbursement Claim Form found on the benefits forms and documents page and:

• Submit your completed reimbursement claim form and documentation of your out-of-pocket expense (e.g., an EOB from the Health Care or Dental Care carrier) electronically through EBPA's secure document submission portal, secure.ebpabenefits.com (select "Reimbursement Accounts").
  or
• Return your completed FSA Reimbursement Claim Form and documentation of your out-of-pocket expense (e.g., an EOB from the Health Care or Dental Care carrier) to the mailing address or fax number indicated on the form.

You have until March 31 of the following year to file a claim for reimbursement.

Note: Both accounts have a "use it or lose it" feature. Amounts contributed by you in a calendar year but not used by 12/31 of the calendar year are forfeited. If you leave The New School, your participation in the FSA plan will terminate on your employment termination date. You will not be able to use your benefits card after that date.

To obtain forms and documents related to the FSA plan, visit the benefits forms and documents section.