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Flexible Spending Account (FSA)

Flexible Spending Accounts (FSAs) are for money you have set aside and earmarked for a particular use.  This money is not taxed, and is accessible as you need it.  You will save money when you use pre-tax dollars to reimburse your eligible health care expenses.  If you enroll in the flexible spending account, your elected contributions will be deducted from your pay and will not be subject to federal income tax, state income tax, or social security (FICA) taxes.  When your taxable income is reduced, your taxes are also reduced.

Macalester employees with a .50 FTE or higher are eligible for coverage.  Certain additional criteria must be met for specific types of FSA enrollment.  Macalester has three different types of FSAs available to our eligible employees.  FSA funds must be spent within a calendar year, with a few exceptions, or the money is forfeited.  Employees must re-enroll annually to continue coverage.

The key to effective use of the flexible spending account is planning.  You must anticipate what your expenses will be for the coming year and set aside enough money to cover them.  You decide how much money you will contribute annually (based on a calendar year) to your account.  

  • Dependent Care Reimbursement Account (FSA)

    Macalester employees with an FTE of 0.50 or greater are eligible to enroll in our Dependent Care FSA.  This account lets you set aside up to $5,000 per year per household for child care of dependent children 12 years or younger. 

    You can use your FSA dollars for daycare, early morning programming, and after school programs with child care centers, nurseries, preschools, afterschool programs, summer day camps, and in-home nannies.
  • Health Care Reimbursement Account (FSA)

    This type of account is available to employees on our PPO health plan, or benefit-eligible employees who are not on either of our health plans. This type of account has a use-it-or-lose-it structure associated with it.

    Annual Contribution Limits

    2024: You can contribute up to $3,200 pre-tax dollars to use towards eligible health, dental, and vision expenses.

    2025: You can contribute up to $3,300 pre-tax dollars to use towards eligible health, dental, and vision expenses.

    Annual Rollover Amount

    2024: The health care reimbursement FSA does allow for a $640 annual roll-over.  This means any remaining funds over $640 will automatically be forfeited.

    2025: The health care reimbursement FSA does allow for a $660 annual roll-over.  This means any remaining funds over $660 will automatically be forfeited.

    Changes to FSA Account Type for Open Enrollment for Rollover

    • If you change account types at open enrollment time, moving from a Health Care Reimbursement Account (FSA) to a Limited Health Care Reimbursement Account (FSA). The balance up to the allowed rollover amount for the year will automatically be moved to your new account for eligible expenses.
    • If you do not enroll in either the Healthcare or the Limited Healthcare Reimbursement Accounts (FSA’s) for open enrollment, you will keep the balance up to the allowed rollover amount for the year in the account you had for the new year. There will be no annual election, but the rollover amount will be available to use in the new year for eligible expenses.
  • Limited Health Care Reimbursement Account (FSA)

    This type of account is available to employees on our High Deductible health plan, or benefit-eligible employees who are not on either of our health plans. This type of account has a use-it-or-lose-it structure associated with it.

    Limited-purpose FSAs can be used for vision and dental expenses. Beginning July 1, 2024, limited-purpose FSAs can now also be used for newly eligible expenses. This change expands the opportunities for participants to save on their healthcare expenses. Care for certain expenses generally include diagnostic expenses that are for the detection or prevention of a medical issue, not to treat an existing one. Examples of Newly Eligible Expenses: Glucometers, Sunscreen, Flu shots, qualifying Lab work, and qualifying X-rays.

    Newly eligible expenses can be paid for using the benefits card, but others may require the claim to be submitted and provide substantiating documentation. In some cases, a prescription or letter of medical necessity may also be required.

    After July 1, 2024 participants may also be reimbursed for newly eligible expenses that were incurred anytime during the current plan year. Click here for additional details. Questions on the newly eligible expense can be directed to Chard Snyder, a WEX company via email [email protected] or phone 1-800-982-7715.

    Annual Contribution Limits

    2024: You can contribute up to $3,200 pre-tax dollars to use towards eligible dental and vision expenses.

    2025: You can contribute up to $3,300 pre-tax dollars to use towards eligible health, dental, and vision expenses.

    Annual Rollover Amount

    2024: The limited health care reimbursement FSA does allow for a $640 annual roll-over.  This means any remaining funds over $640 will automatically be forfeited.

    2025: The health care reimbursement FSA does allow for a $660 annual roll-over.  This means any remaining funds over $660 will automatically be forfeited.

    Changes to FSA Account Type for Open Enrollment for Rollover

    • If you change account types at open enrollment time, moving from a Limited Health Care Reimbursement Account (FSA) to a Health Care Reimbursement Account (FSA). The balance up to the allowed rollover amount for the year will automatically be moved to your new account for eligible expenses.
    • If you do not enroll in either the Limited or Healthcare Reimbursement Accounts (FSA’s) for open enrollment, you will keep the balance up to the allowed rollover amount for the year in the account you had for the new year. There will be no annual election, but the rollover amount will be available to use in the new year for eligible expenses.
  • Accessing Account and Funds

    To access your account online you will first need to register and create your username and password with www.chard-snyder.com.

    • Click on the blue Login button in the upper right corner of the page. The page will slide down to reveal the login options.
    • Select ‘ACCESS YOUR FSA, HRA, HSA ADVANTAGE, COMMUTER BENEFITS ACCOUNT(S)’ from the Participants section on the left.
    • Under New User, select Get Started.
    • Complete the next four steps. Select Next in the bottom right to advance.
      • Enter user identification details.
      • Select security questions and provide the answers.
      • Create a username and password.
      • Select Submit to complete registration.

    Please note: If you have previously logged in, enter your username and password to access your account. If you don’t remember your username and password, use the Forgot Username? or Forgot Password? links.

    Once you have established your online account, you will be able to login with the user ID and password you have already created.  Through your online access you can check your account balance, reimbursement activity, and claim status.

    You will be issued a Debit card and you can use that to directly pay for expenses from your FSA.  You may use your card until the expiration date shown on the front. You will receive new card(s) just before your current card expires.  If you recently enrolled in a FSA(s), debit cards are mailed to the address on file within 14 business days from the new enrollment being processed on the first payroll the benefit(s) are effective.

    You can also use personal funds and then submit a request for reimbursement after the fact.  You can start this request through the online portal.

    All reimbursement claims must be made by March 31st of the following calendar year or within 90 days of your departure from Macalester.
  • Submitting Claims

    • You may use your debit card to directly pay for expenses from your FSA.
    • Manual reimbursements may be submitted online www.chard-snyder.com or through the mobile app. You may access and complete the necessary forms, attach documentation and send it via online, fax, mail or mobile app.
    • You must submit claims for reimbursement by March 31 of the following calendar year. However, if you terminate employment you must submit claims for reimbursement within 90 days after your date of termination. Reimbursable expenses must be for services dated between the 1st of the year and your termination date. Expenses incurred after your termination date do not qualify for reimbursement.

     
  • Resources

    Contact Information for Chard Snyder, a WEX company

    • Website: chard-snyder.com
    • Chard Snyder, a WEX company Customer Service Number: 1-800-982-7715 (Toll Free) Monday-Friday, 7 am – 7 pm (central time)
    • Email at: [email protected]
    • Live chat via the Chard Snyder homepage, click on the green button for “Live Chat” on the right side of the screen.

    Dependent Care FSA Resources

    Healthcare & Limited Healthcare FSA Resources

    Online Portal and Mobile App Resources

    We are going green as much as possible and would prefer participants use the online portal and mobile app to submit claims and request a debit card, but they have made the paper form available for all FSA Accounts.
          • Plan Documents