Flexible Spending 2010 Open Enrollment

Faculty and Staff who expect to have any out-of-pocket medical, dental, vision, or prescription drug expenses in 2010, or if you pay someone to care for a child or incapacitated dependent adult in order for you and your spouse to work, you may want to consider enrolling in a Flexible Spending Account (FSA).  There are two types of FSAs—one is referred to as a health care flex account and the other is a dependent care flex account.

Enrollment in a FSA allows you to take advantage of a salary reduction arrangement whereby out-of-pocket medical expenses and dependent care expenses are reimbursed with before-tax salary dollars.  You may wish to contact your income tax consultant as to what is best in your circumstances.

Details concerning both plans and enrollment forms for Health Care and Dependent Care are attached.  Please complete the appropriate enrollment form, sign, and return it to the Human Resources Department.  You may fax your signed deduction form to us at 227-2334 or return via campus mail.  You should keep a copy for your records.

The forms may also be found by visiting the Benefits web page and scrolling down to Flexible Spending Accounts:  http://webb.nmu.edu/hr/SiteSections/Services/Benefits.shtml

The deadline for enrollment in a Flexible Spending Account (FSA) for 2010 is Monday, November 9, 2009.  Please note:  Enrollment is not automatic—you must re-enroll for the upcoming year in order to participate.  If you have any questions, please contact me at 1030.