|Flexible Benefits Program|
Flexible Benefits Summary
Because employees have different needs, the University sponsors a Flexible Benefits program that provides opportunities for choosing benefits which suit personal circumstances. Flexible Benefits is a cafeteria-style benefits program offered to full-time and part-time employees. The program is not available to visiting faculty or visiting professional classifications.
Through the Flexible Benefits Program, employees are able to use UDollars provided by the University to assist in paying for benefits selected. If the total cost of the options chosen exceeds the University's UDollars, employees pay the difference in pre-tax dollars. If the total cost of the benefits selected is less than the University's UDollars, employees receive the difference as taxable cash.
The program also makes available tax-saving opportunities through flexible spending accounts (FSAs) for employees who anticipate out-of-pocket medical, dental and/or dependent day care expenses.
Although the annual enrollment for many of the flexible benefit options occurs in early May, there is a different enrollment period for flexible spending accounts (FSAs). (Only health care, dental, vision, life insurance and disability benefit programs can be selected during the May enrollment period. Changes resulting from the May enrollment are effective the following July 1.)
The FSA plan year to a calendar year, so all claims and expenses are processed from January 1 through December 31 of each year. The FSA plan also includes a 2½-month grace period (through March 15) for participants to incur expenses that may be reimbursed from contributions made in the preceding year. Please also note that the annual enrollment for FSAs occurs in November; it applies to claims and contributions for the following calendar year.
Please refer to the Flexible Benefits Book for complete details on this program.
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