Flexible Spending Accounts

UMR administrates the Kenyon College Flexible Spending Benefits plan. To contact a member of the UMR Flex Team, phone toll free: 1-866-868-0145.  Participation may begin on the date of your employment and is voluntary. 

The contributions limits for 2020-21 are:

• $2,750 Health Care;

The smallest of the following amounts for Dependent Care:

• $5,000 if the employee is married and filing a joint return or if the employee is a single parent ($2,500 if the employee is married but filing separately);
• The employee's “earned income” for the year; or
• The spouse’s “earned income,” if the employee is married at the end of the taxable year.

If you do not make a written election to participate in the plan when you first become eligible, you cannot participate during the plan year. However, you may join in any future plan year by completing an enrollment form during the annual enrollment period. The annual enrollment period is held in Mid-April through Mid-June of each year. A new election form must be completed each year during the annual enrollment period to continue participation.

The plan year begins July 1 and ends June 30. Employees can choose to reduce their gross salaries by a specified amount. The dollars are placed in one or both of the accounts mentioned below. Allocating dollars to the spending accounts results in a lower tax base. Example: an employee, earning $25,000, allocates $2,000 to the Dependent Care Account and $1,000 to the Medical expense account. The employee pays federal and social security taxes on $22,000. Dollars withdrawn from the accounts are distributed on a tax free basis.

Employees must use caution in allocating dollars to these accounts as all monies must be used by the end of the plan year. 

SUBMISSION DEADLINES:

• Plan year:  7/1– 6/30
• Grace period to incur additional charges:  7/1 – 9/15 (75 Days after plan year ends)
• Grace period to file for reimbursement: 9/15- 12/15 (75 Days after grace period ends)
• Filing deadline for the plan year:  12/15

If there are funds left in the accounts, under IRS regulations the employee forfeits the monies.

THE HEALTH CARE REIMBURSEMENT ACCOUNT

Even if you are covered by the medical plan, you probably have some health care costs you must pay out of pocket. You can redirect tax-free money into your account to reimburse yourself for eligible expenses. Because you never pay income or Social Security taxes on the money you set aside, you can receive quality health care and save money.

Eligible Health Care Expenses

The following is a partial list of the types of expenses which may be eligible for reimbursement, if not paid by insurance.

Ambulance	Hearing Aids & Batteries
Braces	Hospital Services	Psychotherapy
Birth Control Pills	Insulin	Reconstructive Surgery
Chiropractic Care	Laboratory Fees	Speech Therapy
Contact Lenses	Mentally retarded, home for Nursing Care	Sterilization
Copayments	Nursing Home	Transplants
Deductibles	Occupational Therapy	Wheelchair
Eye Exams	Oxygen Equipment	X-Ray
Eyeglasses	Physical Therapy

Estimate your expenses:

MEDICAL

Deductibles	________
Copayments	________
Surgical Expenses	________
Prescription Expenses
Vision Exams, Glasses, Contacts	________
Dental	________
Orthodontia	________
Physical Exams	________
Other expenses	________
TOTAL	________

DEPENDENT CARE

Child Day Care	______
Pre-school	______
Summer Day Camp	______
Adult Day Care	______
Other Eligible Expenses	______
TOTAL	______

Add your estimated expenses, and divide by the number of paydays during the plan year to calculate a possible contribution.

(salary=12 pays, hourly=26 pays)

Flexible Spending Enrollment Form

UMR Flex Reimbursement Claim Forms and FAQ

My Benny Flex Card Manual