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Reimbursement/Spending Accounts

Tulane University offers three different spending accounts under the administration of Accrue Health. These accounts 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 these programs each year. See below the three spending account 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.
  • A Health Savings Account (HSA) is an actual bank account that allows you to save and pay for medical, dental, and vision expenses on a tax-free basis. Employees can only contribute to this plan if they are enrolled in the HDHP.

How Flexible Spending Accounts (FSAs) 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.

Summary of FSA Programs

HEALTHCARE FSA DEPENDENT FSA
$2700 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 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

How Health Savings Accounts (HSAs) Work?

  • Enroll into the High Deductible Health Plan (HDHP) and estimate your healthcare expenses for the year.
  • Your contributions are made through payroll deductions and deposited into a triple-taxed advantaged bank account.
  • You can access your funds through a debit card when the contributions are deposited each payroll or submit for reimbursements.
  • Unused balances rollover from year to year and if you leave the university the account is yours to keep.
HSA Contributions
How Much Can You Contribute? 2020 IRS Contribution Limit Your Maximum Contribution Amount Tulane's Contribution
Employee Only Coverage $3,550* $3,050 $500**
Family Coverage $7,100* $6,100 $1,000**

*    If an individual reaches age 55 by the end of the calendar year, he/she can contribute an additional $1,000

**  Tulane's contribution is pending upon completion of the wellness incentive activities. More information about the wellness incentive can be found here.

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

Vendor Information

Have questions about your plan?

Call the Benefits Team

Phone:

504-865-HR4U(4748)

Email:

TUBenefits@tulane.edu

Monday-Friday

8:30am - 5:00pm CST