Eligible faculty and staff members may contribute pre-tax dollars to fund a Health Care Flexible Spending Account (HFSA).* This account offers reimbursement for the cost of deductibles, coinsurances, and co-payments from any medical, dental, or vision charges; for balance billing costs; and for other eligible expenses that are not covered by insurance.
* Effective January 1, 2013, the maximum allowable contribution to a Health Care Flexible Spending Account will be $2,500.
Careful planning is essential when establishing a HFSA because any funds that are not used to reimburse eligible expenses by the plan year submission deadline are forfeited by the employee. The deadline for submission of reimbursement requests from a Lehigh HFSA is March 31st following the end of the calendar year in which the expense was incurred.
The Internal Revenue Service determines what supplies and services are eligible for reimbursement from HFSAs.
* Effective December 7, 2009: first-time account registrants have the choice of providing their Ceridian Benefits Services Account ID instead of their Social Security number when logging into the Ceridian Web site for the first time. Other new security features include the separation of the User ID screen from the password screen and the addition of a second security question.