Flexible Spending Accounts

The university offers flexible spending account (FSA) options: health care and dependent care. A Health Care FSA is an alternate way of paying your share of your health care costs. In the same manner, a Dependent/Child Care FSA reimburses you for expenses for dependents and childcare which are necessary to allow you and your spouse to work. Here is a link to a concise explanation of how an FSA works (PDF).

An FSA is a benefit option designed to increase your disposable income by reducing the amount of taxes you pay. An FSA enables you to use pre-tax dollars to pay for qualified dependent care and health care expenses. These qualified expenses must be for service rendered AFTER the start date of your FSA and on or before the December 31 following your start date. The maximum annual contribution limit of the Health Care account is $5,000 and $5,000 for the Dependent/Child Care.

FSA's have a "spend-it-or-lose-it" provision. Any money deposited in FSA's and not used in the same calendar year is forfeited. You don't get back any unspent balances. However, your account for the plan year will remain open until the following March 31 to allow you to be reimbursed for expenses incurred in the plan year but not billed until after the year ended.

The Claims Submission Grace Period is the period of time after an employee terminates employment (or loses eligibility to participate in the Plan) during which the employee can submit claims for expenses incurred while the employee remained a participant. The Claim Submission Grace Period begins on the employee's termination and ends 90 days after the date of termination.

The university's flexible spending account (FSA) administrator is Chard, Snyder & Associates (Chard, Snyder).
The Chard, Snyder website is located at: www.chard-snyder.com

FSA participants may access their account here

The following are useful links regarding your FSA account(s):

• Allowable expenditures for health reimbursement and dependent care accounts
• Direct Deposit for FSA Reimbursement (PDF)
• Flexible Spending Claim Form (PDF)
• Flexible Spending Debit Card Application Form (PDF)
• Flexible Spending Debit Card Substantiation Form (PDF)
• Instructions for accessing on-line account (PDF)

Customer Service:

Contact Chard, Snyder at:

Toll free 1-800-982-7715

Fax 888-245-8452

Mail: Chard, Snyder & Associates

3510 Irwin-Simpson Road

Mason, OH 45040