FSA for Medical, Dental, Vision and Dependent Daycare

Flexible Spending Account


Open Enrollment for plan year 2022 is now closed. Please contact the HR Solution Center if you have questions about the Open Enrollment process.


A Flexible Spending Account (FSA), makes it possible for you to pay for certain expenses on a pre-tax basis, which makes your money go farther. All Health Plan participants may have some form of a Flexible Spending Account (FSA), but Basic Health participants may only have a Limited FSA for eligible dental and vision expenses. 

To help UVA employees maximize their money for medical, pharmacy, dental, vision, and dependent-care expenses, the University has two options: Flexible Spending Accounts (FSAs) and Dependent Daycare Reimbursement Accounts. UVA FSAs, including Dependent Daycare Reimbursement Accounts, are managed by Chard Snyder. Any reimbursements you receive from Chard Snyder must be deposited directly into your personal checking or savings account. 

Changes

FSA minimum and maximum contribution amounts (and other program details) remain the same for 2022 as they were for 2021.

2021 elections for FSAs will NOT carry over to 2022.

Action Items

  • If you want to keep your FSA open, you must re-elect in the FSA program for 2022 during Open Enrollment
    • You must re-elect a dollar contribution for your FSA while in Open Enrollment in Workday
    • If you do not re-elect the FSA during Open Enrollment, your benefit will be waived and will not carry over to 2022
  • FSA funds must be used by the end of the calendar year. However, UVA has a grace period of 2 1/2 months. This allows you to spend FSA money through March 15 of the following year. After the grace period ends, you will lose any remaining money in your FSA account. You may only start, stop, or change FSA elections during Open Enrollment or if you have a qualified life event
    • Chard Snyder has an online FSA store where you can use your FSA dollars. Check out the FSA Eligibility List to find out which kinds of over-the-counter products and medications you can purchase.

Types of Accounts

Expand the items below to learn more about the various types of savings accounts. 

  • Full Flexible Spending Account (FSA)

    • May be used by Choice and Value Health participants
    • Helps offset out-of-pocket health care expenses, such as copayments, deductibles, coinsurance, and certain over-the-counter medications
    • Full amount of annual contributions available after your first paycheck of 2022
  • Limited Flexible Spending Account (LMT)

    • Available for Basic Health participants
    • Helps offset out-of-pocket dental and vision care expenses; may be used in combination with a health savings account (HSA)
    • Full amount of annual contributions available after your first paycheck of 2022
  • Dependent Daycare Reimbursement Account

    • Funds available after they have been put into your account (meaning the amount increases as additional contributions come from your paychecks)
    • May be more beneficial than the federal dependent care tax credit for most individuals whose adjusted gross income is greater than $25,000 (consult a tax professional for an assessment of your personal situation)

Eligibility

Some eligibility requirements are unique to each FSA; others apply to most, if not all, of the accounts.

  • Employment Status

    In general, to be eligible for FSAs (including Dependent Daycare Reimbursement Accounts), you must be a full- or part-time UVA employee, and regularly scheduled to work at least 20 hours/week. To be eligible for FSAs, you must be:

    • Faculty
    • Classified Staff
    • Medical Center Team Member
    • Postdoctoral Research Associate
    • Senior Professional Research Staff
    • University Staff
    • Housestaff

    Mandatory Direct Deposit: For all paper claims, direct deposit is required. If you are a new enrollee, you must provide direct information on your personal Chard Snyder account for reimbursement of all non-Benny Card transactions. 

  • Health Plan Type

    UVA offers two types of FSA: full and limited. Your UVA Health Plan option determines which type of FSA you are eligible for.

    • Choice Health or Value Health participants may enroll in the full FSA, which can be used for eligible medical, dental, and vision expenses
    • Basic Health participants may enroll in the limited FSA, which can be used for eligible dental and vision expenses. They can also enroll in a Health Savings Account, which can be used for eligible medical, dental, and vision expenses.
  • Dependent Criteria

    To be eligible for a Dependent Daycare Reimbursement Account, your dependents must meet one of the following criteria:

    • Are under age 13 at the time of service and are claimed as dependents on your taxes
    • Are unable to care for themselves, such as adult children with disabilities or elders (these dependents are eligible regardless of age)

    All dependents must live with you for more than half the year for you in order to use funds from a Dependent Daycare Reimbursement Account for their care.

    Note: A Dependent Daycare Reimbursement Account may be more beneficial, in terms of a tax benefit, than the federal dependent care tax credit for most individuals with an adjusted gross income > $25,000. Consult a tax professional for an assessment of your personal situation.

Contributions

Money contributed to UVA FSAs must be used during that year, as funds do not roll over. FSAs and DCAs do have grace periods to spend the money beyond year’s end. You may continue to spend unused funds until March 15*. The deadline to submit claims is April 30. Since the money is use-or-lose, make sure you put aside an amount that will be reasonable for you to spend within the allotted time.

Keep in mind that contributions are for the calendar year, regardless of when you are hired. 

*Note: If you sign up for Basic Health with a Health Savings Account (HSA) during Open Enrollment after having a full FSA previously, your FSA balance needs to be $0.00 by December 31, regardless of the grace period, for your HSA to be open at the beginning of the next year. Visit the Open Enrollment Health Plan webpage for more information.

  • FSAs (Full and Limited)

    For both limited and full FSAs, the following annual contribution information is the same:

    Minimum: $120

    Maximum: $2,500

  • Dependent Daycare Reimbursement Accounts

    The following are the annual contribution limits:

    Minimum: $120

    Maximum: $5,000 (household limit)

    When choosing how much to contribute, try to anticipate dependent eligibility changes. For example, if your child will be turning 13 mid-year, plan your contributions accordingly so you don’t over-contribute for a full year of care.

  • Managing Contributions

    UVA’s FSAs and health savings accounts (HSAs) are managed by Chard Snyder.

    The full FSA contribution amount you choose for the year is available as soon as the account is open. Payroll deductions for the FSA would continue through the remainder of the year.

    Dependent Daycare Reimbursement Account funds are available after they have been deposited in your account by payroll deductions each paycheck. It takes a few bank days after payday for payroll-deducted funds to show in your account.

    These funds must be used by the end of the calendar year. However, UVA has a grace period of 2 1/2 months. This allows you to spend FSA money through March 15 of the following year. After the grace period ends, you will lose any remaining money in your FSA account. 

    Mandatory Direct Deposit: For all paper claims, direct deposit is required. If you are a new enrollee, you must provide direct deposit information to Chard Snyder for reimbursement of all non-Benny Card transactions. You can enter your direct deposit information on your personal Chard Snyder account beginning Jan. 1, 2022.

Enroll in Workday

  • To review and elect your benefits in Workday

    Please see the video below on the new Benefits Tiles system in Workday, which will apply both for Open Enrollment and for all benefits changes throughout the year. 

    A summary of how to review and elect your benefits in Workday is below:

    • Navigate to Workday.
    • In your Workday Inbox, click on the message titled "Open Enrollment Change: [Your Name] on 01/01/2022"; click on "Let's Get Started."
    • Open Enrollment in Workday this year is organized into "tiles" for each benefit; you will see two sections, one for Health Care and Accounts, and one for Insurance. Each section has multiple tiles. You will start with Health Care and Accounts.
    • You will have three edit options at the bottom of every tile:
      • Manage to make changes to a benefit you already have
      • Enroll to add a new benefit
      • View to see a benefit that is not editable in Workday (more on this further down)
    • Select a tile and choose the edit option for that tile.
    • Once you've selected or waived a benefit in the Health Care and Accounts section, click on Confirm and Continue -- this will take you to a separate window to select or waive eligible dependents for that benefit. Dependents previously enrolled who are eligible will show up automatically, you just need to select or waive each one of them.
    • Click Save to update the benefit tile. This does NOT submit your elections, it just saves the individual benefit tile details you've selected. 
    • Repeat the above process for all six Health Care and Accounts tiles.
    • One thing Workday doesn’t do in the new tile platform is give you a status update on which benefits you’ve touched. So, it would be a good idea to make a note as you complete them so you can track your progress.
    • Once you've completed the Health Care and Accounts section, move on to the Insurance section. You will see multiple tiles under Insurance.
    • Select a tile and choose the edit option for that tile.
    • Please note that some life insurance benefits are VIEWABLE in Workday but not changeable. Each of these tiles will direct you to where you need to go to make changes. Some of these changes may be outside of Workday.​
    • Once all your benefits have been reviewed and edited as needed, click on Review and Sign -- read the summary of what's you elected on that page, and attach any required documents such as birth certificate for new dependents.
    • Click on the I Accept box, then click on Submit to complete your Open Enrollment process.
    • Print this page or save it as a PDF.
    • Look for additional tasks in Workday for things such as spousal affidavits or HSA affidavits.​
  • If you Change Your Mind on an Open Enrollment Choice You Made and Open Enrollment Has Not Closed

    You can make changes to your elections as long as the Open Enrollment period is open, even after you have submitted your elections.

    1. From the Benefits app in Workday, click on Change Open Enrollment
    2. You will be making changes to what has been previously submitted. Any changes made will need to be resubmitted. If you do not resubmit, the changes will be deleted and the previous submission will remain in effect.
    3. Move through the same tiles to elect or waive coverage.
    4. Once changes are complete, electronically sign at the bottom of the last page and press the Submit button.
    5. Print the new confirmation of benefits elections.

FAQs - FSAs

  • Help me compare the Health Savings Account and Flexible Spending Account

    All active, benefits-eligible employees enrolled in Basic Health are able to have a Health Savings Account (HSA). Funds in your HSA can be used for eligible health care, dental, and vision expenses. Funds in these accounts roll over each year and are yours to keep for future health care costs.

    If you are enrolled in a Health Savings Account, you are not eligible for a Full Healthcare Flexible Spending Account, but you can enroll in a Limited and/or Dependent Daycare Flexible Spending Account to maximize your savings.

    A Flexible Spending Account (FSA), makes it possible for you to pay for certain expenses on a pre-tax basis, which makes your money go farther.

    Here are resources to help you learn more:

  • Can I Enroll in an FSA with Basic Health?

    Basic Health participants may have a limited FSA for eligible dental and vision expenses. For medical services and prescription costs, you must use HSA funds. Basic Health participants may not have a full health care FSA. 

    For FSAs, the full contribution amount you choose for the year is available as soon as the account is open. For example, if you choose to put $500 in a limited health care FSA for the year, you would be able to use that full $500 for eligible dental and vision expenses after the first paycheck of the year. Payroll deductions for the FSA would continue through the remainder of the year.

    Limited FSA 

  • Do I need to re-enroll in my FSA during Open Enrollment or will it carry over?

    2021 elections for FSAs and HSAs will NOT carry over to 2022. You must re-elect the FSA and HSA programs for 2022 during Open Enrollment. 

  • What is the grace period with FSAs? And what expenses can be submitted during this period?

    A grace period provides you with an extra 2 1/2 months to spend last year's money. UVA offers a brief grace period into the following year, so you will have until March 15th to incur expenses. The deadline to submit claims is April 30th. 

    Full Flexible Spending Account (FSA), Limited Flexible Spending Account (FSA) and Dependent Daycare Reimbursement Account (DCA) do have grace periods to spend the money beyond year's end if you are enrolled in the FSA or DCA program on December 31st of the plan year. 

    The expenses must be used for eligible services and the expense must be incurred during the calendar year for which the account was opened or during the 2 1/2 month grace period from January 1st to March 15th of the following calendar year. The grace period is designed to give you an opportunity to incur expenses and use all the funds in your account if you contributed more than was actually needed for the calendar year. 

    If you are switching from Value Health or Choice Health to Basic Health and you have an FSA, then you will be closing your FSA. You will need to have a balance of $0.00 in your FSA by January 1, 2022 to open your HSA. Otherwise:

    • Your HSA cannot be opened, and you will not be able to make employee contributions until April 1, 2022
    • Deposited funds will become available for use on the third bank day after payday
    • You will not be able to use money in your account to cover any expenses incurred prior to April 1, 2022

    Understanding the UVA Benefit Savings Accounts 

The resource that was the most helpful to me was the "Health Plan Comparison Booklet" that I found on the website. Debbie Luzynski-Weber, Developer, ITS Custom Applications & Consulting

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For non-website questions or concerns about benefits and Open Enrollment, please contact the HR Solution Center by phone at 434.243.3344, or by email at AskHR@virginia.edu.

For previous Open Enrollment email communications, see the right sidebar box on this page labeled "Open Enrollment Emails."