![]() ![]() Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. ![]() The University of Michigan in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. According to IRS rules, any money left in your Health Care FSA on June 1 following the plan year is forfeited. In accordance with Internal Revenue Code and supporting treasury regulations, the university uses forfeited funds to pay administration costs of the of the FSA program. In the alternative, forfeitures may also be used by the university to fund employee benefits administration costs, education and benefit election tools, MHealthy coaching and health initiatives, the Emergency Hardship Program, and university scholarship funds.Ĭall the SSC Contact Center at 5-2000 from the Ann Arbor campus, (734) 615-2000 locally, or (866) 647-7657 toll free, Monday through Friday from 8 a.m. ![]() See Using Your PayFlex Card for details.įile all claims by May 31 of the following year. Request and keep all receipts when using your PayFlex Card. You do not need to file claims when you use the card, but you will need to provide itemized receipts to PayFlex later on to verify transactions. If you use your PayFlex Card to pay for eligible expenses, it works as a credit card, only the funds are deducted from your FSA, and you have to have the full amount in your Health Care FSA to cover the bill. See Submitting Claims for Reimbursement for details on filing claims. There is also a PayFlex Mobile app for filing claims using your smartphone. You have the option of submitting a claim online or completing a paper claim form and mailing or faxing it along with your itemized documentation. The entire annual contribution is available for reimbursement at the FSA effective date, even if you have not made all of your contributions from your paychecks yet. If you pay out-of-pocket for eligible expenses, you may file a claim for reimbursement after you or your eligible dependents receive health care services or you make eligible purchases. Once enrolled you cannot change your annual contribution limit or cancel participation unless you experience a qualified family status change. Use the PayFlex Savings Calculator to help you determine your estimated annual expenses that could be reimbursed from a Health Care FSA. Comprehensive information on ineligible expenses is available from PayFlex. Note: This list is only an example and is subject to change.
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