Flexible Spending Accounts (FSA)
If you anticipate spending more than $100 on health insurance co-payments or deductibles, or on expenses for dental, vision, or hearing services in the next year, or if you plan to have expenses related to dependent day care, you may be interested in enrolling in one of the University's Flexible Spending Accounts. Flexible Spending Accounts allow you to save money on a pre-tax basis to cover these expenses.
Funds are automatically deducted from your paycheck (on a pre-tax basis) and are held in your individual account by United Healthcare. The maximum annual contribution for the Medical Reimbursement Account is $2,700 for 2019/$2,750 for 2020, and the maximum annual contribution for the Dependent Care Account is $5,000 per family. If you are currently enrolled in a flexible spending account, and wish to continue to participate in the next year, you must re-enroll during annual open enrollment. Your participation in this plan is not automatic and you must re-enroll each year you wish to participate.
If you enroll in a Flexible Spending Plan, consider your contributions carefully. The funds you allocate cannot be returned to you if you do not incur the expenses during the next year and you cannot "drop" or "change" this coverage during the year, except under specific circumstances for dependent care accounts.
Looking for information on your Benefits? Our benefits site provides easy access to your benefits selections and additional benefits information, including various forms and applications.
Health Saving Accounts (HSA)
Active benefit-eligible employees can view their insurance by logging onto the employeebenefits.catholic.edu site using their Cardinal Credentials. This site provides easy access to your benefits selections and additional benefits information, including various forms and applications.
Please note: If you are a cobra or retiree participant, you can access your benefits information by visiting the benefitsolver site.
Making Changes to Your Benefits
Usually you can make changes to your benefits during the Open Enrollment period, typically held each fall. Changes made during Open Enrollment are effective January first of the next calendar year.
However, if you have a qualifying event that requires you to make changes to your benefit elections, you can do so as long as you notify the HR Partners team within 30 days of the event and provide supporting documentation of the event and a status event form.
These qualified events include:
- Adding dependents through marriage, birth, adoption or legal guardianship
- Removing coverage for dependents due to divorce, legal separation, death or if the dependent loses eligibility status (is eligible to enroll in another medical plan)
- Enrolling or removing coverage due to a significant change in your (or your spouse’s) health coverage that occurs due to your spouse’s employment