Flexible spending accounts
Augustana College offers medical and dependent care flexible spending accounts (FSA). These benefits are administered by Employee Benefits Corporation (EBC). FSAs allow employees to set aside pre-tax earnings to be used for eligible medical or dependent care expenses. These amounts are deducted from your pay and deposited into one or both of the reimbursement accounts.
Employees do not have to be enrolled in the Augustana Health Care plan in order to participate in the flexible benefits plan but the employee must be benefit eligible.
Eligibility: Employees must be working a minimum of 30 hours per week or teaching 18-23 credit hours per academic year in order to qualify. New benefit-eligible employees are able to enroll the first of the month after the date of hire. The minimum amount required to enroll is $100 annually and the maximum follows the annual IRS limits.
This is an annual enrollment and the employee's election will remain for the calendar year. The employee will not be able to make changes for the following year until open enrollment, unless the employee has a life-changing event. Life-changing events can be marriage, divorce, birth of a child, adoption of a child, or loss of other coverage.
All dependent care and medical claims will be processed through EBC. If you would like to use a Flex debit card you must request it directly from EBC. Otherwise, you will need to submit the claim directly to EBC and they will reimburse you accordingly.
For more information about benefits or qualifying conditions, contact the Human Resources Office at Augustana College.