Flexible Spending Accounts
Tulane University offers Flexible Spending Accounts (FSA) under the administration of WageWorks. FSAs are designed to give you a tax-free way to pay for eligible health care and dependent care expenses that you would normally pay for on an after-tax basis. You must re-enroll in Flexible Spending Account programs each year. See below the two FSA programs Tulane offers:
- A Healthcare FSA (HCRA) reimburses you for eligible, out-of-pocket medical, dental, and vision expenses for you and your qualified dependents up to the amount of your annual contribution. Expenses are not claimed on your income tax return.
- A Dependent Care FSA (DCFSA) reimburses you for qualified child care and elder day care or custodial elder care expenses incurred so that you (and if married, your spouse) can work. Expenses are not claimed on your income tax return and cannot be used for medical expenses.
How Flexible Spending Accounts Work?
- You estimate your healthcare and/or dependent care expenses for the coming year and enroll in either or both accounts.
- Your contributions are made through payroll deduction before federal, FICA (and in most cases state) taxes are withheld. This reduces your taxable income.
- Throughout the year, when you pay an eligible healthcare expense (medical, dental, or vision) or dependent care expense (daycare, elder care or custodial elder care), you submit a claim for reimbursement from your account.
- You also have the option of using the flexible spending account debit card for the Healthcare Flexible Spending Account (HCRA) only.
- You are reimbursed with the money you set aside in your account.
- Once you are ineligible or terminated your card will be turned off and you will have to file for reimbursement manually.
| HEALTHCARE FSA | DEPENDENT FSA |
| $2600 Maximum | $5000 Maximum |
| Eligible Healthcare expenses for employee and dependents |
Eligible Dependent Day Care expenses for qualified dependent(s) Eligible Dependent Elder Day Care or Custodial Elder Care expenses for qualified dependent(s) |
| FSA Debit Card | Pay provider directly or Auto pay |
| Total funds available immediately | Funds available as contributions are made via payroll deductions |
| Grace period until March 15th of following year |
No grace period Expenses must be incurred same year |
Eligibility
- An employee scheduled in HCM to work 18.75 hours or more per week
- A full-time employee scheduled to work with the university for no less than 7 months
- A part-time employee working at least 50% of a full-time schedule and expected to work no less than 7 months
How to Enroll
To enroll, visit Employee Self-Service within 30 days of your new hire/newly eligible date:
- Go to Employee Self-Service and login with your TU username and password
- Make your benefits selections
- Print your confirmation statement and keep for your records
- For more detailed instructions, CLICK HERE.
Resources
- Eligible Healthcare FSA Expenses
- Eligible Dependent Care FSA Expenses
- Dependent Care FSA Claim Form
- Healthcare FSA Claim Form
- FSA Payment Options
- Print, replace, or order a new ID card
- Life/Work Changes
Vendor Information
- WageWorks
- Customer Service: 1-877-924-3967
Have questions about your plan?
Call the Tulane Benefits Service Center
Toll Free Phone:
1-844-810-4364
Email:
Monday-Friday
7:30am - 5:30pm CST
