Important FSA Information for Temporary Faculty

 

 Account Reimbursement Schedule 07-08 , 08-09

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Current Temporary Faculty members may elect or make changes to a Flexible Spending Account(FSA) for the new plan year only if a benefit eligible Fall and/or Spring assignment has been entered in SAP by the end of the Open Enrollment period.  If no benefit eligible assignment is entered in SAP by the end of Open Enrollment, Temporary Faculty will not be eligible to elect an FSA during the new plan year. This policy has been implemented in order to comply with IRS regulations. 

The following chart outlines FSA Annual Elections and Reimbursements for assignments entered in SAP by Open Enrollment:

Assignment(s)	Annual Election	Reimbursements
Benefit eligible Fall only assignment entered in SAP by Open Enrollment deadline.	Entire FSA Annual Election will be taken in equal amounts over Fall semester pay periods only.	Qualified expenses must be incurred between July 1st and December 31st in order to be reimbursed from the FSA account(s).
Benefit eligible Spring only assignment entered in SAP by Open Enrollment deadline.	Entire FSA Annual Election will be taken in equal amounts over Spring semester pay periods only.	Qualified expenses must be incurred between January 1st and June 30th in order to be reimbursed from the FSA account(s).
Both Fall and Spring benefit eligible assignments have been entered in SAP by Open Enrollment deadline.	Entire FSA Annual Election will be taken in equal amounts over all pay periods for academic year.	Qualified expenses incurred for the entire plan year (July 1st through June 30th) will be eligible for reimbursement.

Other Important Considerations:

• Temporary faculty who receive an additional benefit eligible semester assignment after the Open Enrollment period will be able to continue to incur expenses and submit receipts anytime during the plan year. Their annual election will be fully deferred during the first semester assignment.

• If employment from CMU terminates or an additional semester assignment is granted that is not benefit eligible, Temporary Faculty may continue only the Health FSA through COBRA. Qualifying expenses incurred after termination from a benefit eligible assignment will not be eligible for reimbursement from a Dependent Day Care FSA or from a Health FSA that is not picked up through COBRA.

• First-time, newly hired temporary faculty members may elect an FSA during the new hire enrollment process.

• Certain qualifying status change events may allow for mid-year benefit changes to FSA elections. Visit our Status Change web page at: http://www.hrs.cmich.edu/benefits/status-changes.htm.  

Please contact Benefits and Wellness at 989-774-3661 or benefits@cmich.edu with further questions.