Benefit Savings Accounts & Credits
Benefit Savings Accounts Communication:
We help you save for your health and more
Benefit Savings Accounts Communication:
Learn more about the variety of savings accounts available to employees, and how you can use them to boost your financial well-being.
The Flexible Spending Accounts and The Limited Flexible Spending Accounts set aside pretax income for certain medical costs. The Dependent Daycare Reimbursement Flexible Spending Accounts set aside pretax income for dependent / child daycare expenses.
HSAs allow you to save money from your pretax earnings to use for qualified medical, dental, and vision expenses. You can use an HSA with a high deductible health plan like the UVA Basic Health option.
The Supplemental Benefit Credit provides an annual offset to some benefits deductions. University Staff who are full- or part-time, benefits-eligible, with an annualized salary of $42,000 / year or less may have access to a $550 annual supplemental benefit credit.
Salaried employees with the Medical Center Retirement Plan (MCRP) receive core benefits (retirement, disability protection, and life insurance) at no cost. In addition, Medical Center salaried employees receive flex dollars to purchase optional benefits.
This benefit option is not available to employees currently participating in a Virginia Retirement System (VRS) program.
Full-Time Employee Credit Rate
The following are credit rates for each age range:
For part-time employees, the credit rate for all ages is .00221
Formula