UToledo Human Resources

Flexible Spending Accounts

COVID-19 Flex Spending Account Clarification

In response to the COVID-19 pandemic, many daycares are closed and/or employees are not in need of dependent care.  In response to this changing environment, UToledo will allow employees to complete a qualifying event to reduce or eliminate their dependent care flexible spending account deductions.  Deductions will be adjusted on the next pay cycle following submission of the qualifying event.  Please visit your MyUT portal to submit your qualifying event.  Please use event type “Dependent Status Change”. 

The University maintains a Medical Flexible Spending Account and a Dependent Flexible Spending Account for employees. Employees may set aside annually, on a pre-tax basis, up to $2,750 in the Medical Flexible Spending Account and up to $5,000 in the Dependent Flexible Spending Account (to be used only for daycare expenses).

What is a Flexible Spending Account? A Flexible Spending Account (FSA) is an IRS-approved program that enables UToledo employees to be reimbursed for certain medical and dependent care expenses on a pre-tax basis. Employees who participate in an FSA will save federal, state, and where applicable, city income taxes on all the money set aside in the FSA. In other words, taxable income is reduced by the amount you put into the FSA.

When can I enroll in Flexible Spending? You can enroll in Flexible Spending as a New Hire/Newly Eligible employee or during Open Enrollment or due to a qualifying event such as marriage, divorce, birth, and death. You must re-enroll each year during open enrollment. Once enrolled, your election can only be changed or discontinued with a Qualifying Event.

How does an FSA work? Upon request, the University will deduct the total estimated in pro-rated amounts from the paycheck. As expenses are incurred, receipts are submitted, with a claims form, to the FSA administrator who issues checks on a semi-monthly basis for the incurred expenses. The IRS requires that any amount left unspent by the end of the calendar year be forfeited. Reimbursements can be claimed through March of the following year. For more information, click here.  For a list of approved expenses, please visit the IRS Website.  Please see below for additional information. 

FSA Summary Plan Description (SPD)

FSA Claim Reimbursement Form 

You can access your account online through www.chard-snyder.com.  For enrollment, claims, and other forms, visit the Benefits forms page.

Last Updated: 4/13/20