New Healthcare Flexible Spending limit announced!

Mon, 07 Nov 2016 15:36:03 -0500
benefits, enrollment, health, open

The IRS recently announced an increase to the 2017 healthcare Flexible Spending Account (FSA) limit from $2,550 per year to $2,600 per year.

This announcement came after our initial wave of open enrollment communications. It is important that employees who wish to contribute to the new FSA maximum of $2,600 in 2017, call the Interactive Voice Response (IVR) system prior to Tuesday, November 15th. In addition, those currently enrolled in flexible spending who wish to contribute in 2017 must call the IVR. The minimum contribution is $5.00 per pay and the maximum biweekly amount for the healthcare FSA is $108.33 per pay. For more information on Flexible Spending and the biweekly calculations, please visit the HR website under Open Enrollment.

Our Final Open Enrollment Information Session will be held on Thursday, November 10th in the University Center room 310 from 12:00 – 1:00. Please contact us with questions: hrbenefits@umbc.edu

Thank you!