2023 Health FSA limit increases to $2,850 See exceptions for 2021 EnrollmentEligibility to enroll requires one of the 3 events listed below:
If eligible, here's what you need to do to enroll in the FSA benefit:
ChangesIf I enroll within 30 days of hire, can I disenroll within that 30-day period? New Hire DisenrollYou can only disenroll if coverage has not begun. Coverage begins with the first day of the month after the month you enroll. For example, if you are hired on March 10 and you enroll on March 14, you have until March 31 to disenroll (coverage begins April 1). If you are hired on March 10 and you enroll on April 2, you have until April 9 to disenroll (coverage begins May 1). Midyear ChangesGenerally, no changes can be made midyear, so be sure you understand the program rules before you make your plan year election. However, a change may be possible within 30 days of a qualifying event such as:
Change in statusChanges in status are defined as any one of the following four events:
Return to top Suppose you adopt a two-year-old child during the plan year. Since your number of dependents changed due to the adoption, you now have experienced a status change. Your child is eligible for coverage under the Health FSA and the Dependent Care FSA. You would be allowed to increase the amount you set aside in the Health FSA and the Dependent Care FSA, or enroll in either account if you were not already enrolled. However, you would not be able to decrease or drop either account because there was a gain of eligibility, not a loss of eligibility. A decrease does not correspond with the gain of eligibility. Return to topServed with a judgment, decree or court orderA judgment, decree, or order (“order”) resulting from a divorce, legal separation, annulment, or change in legal custody (including a qualified medical child support order) that requires health coverage for your child allows you to make an election change to your Health FSA. The change is allowed in order to provide coverage for the child if the order requires coverage under your plan; or make an election change to cancel coverage for the child if the order requires your former spouse to provide coverage. Return to topChange in dependent care providerIf you change dependent care providers, you may make an election change to reflect the cost of the new provider. Election decreases are allowed when your child is no longer in childcare or is only in after-school care due to entering kindergarten or first grade (this is considered a provider change). Return to topDependent care expenses change significantly due to a provider rate changeSignificant changes include both increases and decreases in expenditures. However, you may only make a change if the provider is not your relative. Return to topOn leave covered by the Family and Medical Leave Act (FMLA)If you take an FMLA leave, you may revoke an existing election under the Health FSA or Dependent Care FSA. Upon returning from FMLA leave, you may choose to be reinstated in either account if such coverage was terminated during the FMLA. Such reinstatement will be on the same terms as prior to taking FMLA leave. You have no greater right to benefits for the remainder of the plan year than an employee who has been continuously working during the plan year. A participant on unpaid leave under the Family and Medical Leave Act of 1993 (FMLA) leave may Cancel an existing Health FSA or Dependent Care FSA Election for the remainder of the plan year, or continue coverage under a Health FSA while on FMLA leave. You may not continue the Dependent Care FSA while on FMLA. However, you may reinstate coverage for the Dependent Care FSA when you return to work. You may continue coverage under the Health FSA while you are on FMLA by paying the contributions due during your leave. See the FSA Plan Document for more details.
Change requestIn order to request an election change, log into Workday within 30 days of the qualifying event. If you have questions, contact your human resources associate. Change effective date Approved election changes are effective the first day of the month following the event and your submission of the change request. Any request to increase the election amount must apply to only those expenses which the participant incurs on or after the effective date of the increased expense. |
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Flexible Spending Accounts |