Administered by ASI Flex, a Health Care Flexible Spending Account (HCFSA) allows you to set aside pretax dollars, on a pre-loaded debit card, to pay for qualifying medical, dental and vision expenses for you and your dependents.

  • IRS contriubtion limit: $2,650 per employee for the For the 2018-19 plan year.
  • Deadlines: You must incur qualifying expenses between July 1, 2018 and Sept. 15, 2019 for reimbursement by Nov. 15, 2019.  If you do not use all of your funds within the FSA, the remaining amount will be forfeited.
  • Limitations: You cannot participate in both an HCFSA and a Health Savings Account (HSA) at the same time. 

What is a Cafeteria Plan?

A cafeteria plan is a tax-savings benefits program designed to take advantage of Section 125 of the Internal Revenue Code. It allows you to pay certain qualified expenses on a pre-tax basis, reducing your taxable income. This includes CU's Premium-Only Plan and two Flexible Spending Accounts.