The Health Care Flexible Spending Account (HC FSA) is a pre-tax savings account to be used for eligible health care expenses for you and your dependents. Such expenses include but are not limited to coinsurance, deductible amounts, co-pays at the provider's office and pharmacy, orthodontia expenses, chiropractic care or vision care expenses.

The maximum amount you can contribute will be reflected in the enrollment portal. The elected balance will be available on your eligibility/effective date with payroll contributions spread out over the plan year paying it back.

The FSAs are considered "use it or lose it" plans; however, to assist in an emergency when plans change, Drexel has a carry-over provision that will allow a certain amount of unused funds left in the account to roll into the next year. Any funds over the carry-over amount will be forfeited. Drexel’s plan year runs from Jan. 1-Dec. 31 each year. Claims must be incurred by Dec. 31 of that plan year, with manual claims submitted through March 31st of the following year.

Although HC FSAs are typically enrolled in during a new hire or open enrollment window, there are some life events that might allow you to enroll based on the life event timeline. An example of a life event that would allow you to enroll in or change your HC FSA would be your dependent losing coverage. As part of normal life event rules, you would report within 31 days of it occurring and the account would be opened prospectively based on the first of the month following your event.

You can manage your FSA online through the My Drexel Benefits portal. To access the portal, select the My Drexel Benefits link on the Employee tab of DrexelOne. If you have questions on eligible expenses, what the claims process is or need assistance for any other issue not listed, contact the Drexel University Benefits Center at 844.690.3992 or help@mybenefitexpress.com.

Limited Purpose FSA

Employees who elect the CDHP with HSA cannot participate in the Health Care FSA; however, you can choose to participate in the Limited Purpose FSA which can only be used for eligible vision and dental expenses. Unlike a Health Care FSA, an LPFSA can be held at the same time as an HSA.

Please note, once the deductible is met on your CDHP plan, the Limited Purpose FSA will convert to a Health Care FSA.

The Dependent Care Flexible Spending Account (DC FSA) is to be used for expenses relating to the care of your dependents while you or your spouse/domestic partner are at work or attending school full time. This account is not to be used for health care expenses for dependents; the Health Care FSA fulfills that purpose.

The maximum amount you can contribute annually will be reflected in the enrollment portal. The DC FSA account balance will start off as zero and be funded each payroll period within 7-10 days following your pay date. Drexel’s plan year runs from Jan. 1-Dec. 31 each year. Claims must be incurred by Dec. 31 of that plan year, with manual claims submitted through March 31 of the following year.

The Dependent Care FSA has a "use it or lose it" provision, which means that you must have claimed all of your account balance within the allotted time frame, or you will forfeit any remaining funds in your account. It is important to be sure that you contribute into this account an amount for which you know you will be able to be reimbursed.

There is no carry-over provision for the Dependent Care FSA, and any unused funds left in the plan at the end of the claim submission timeline will be forfeited.

Dependent Care reimbursement is often tied to your pay period dates since you are only able to receive up to your available account balance at the time the claim is submitted. As additional contributions are received, any eligible claim(s) that are pending, amounts not yet paid will be issued to you automatically. To speed up the reimbursement turnaround time, it is recommended you sign up for direct deposit.

The Dependent Care Spending Account can be used for expenses such as:

• Pre- and after-school daycare expenses for children up to age 13.
• Non-residential summer camp expenses for children up to age 13.
• Full-day daycare expenses for children up to kindergarten.
• Expenses for non-residential daycare for an eligible parent or parent-in-law.

The Dependent Care Spending Account cannot be used for expenses such as:

• Overnight summer camp
• Saturday School
• Claims for dependents over age 13
• Health care expenses for a dependent

The Commuter Benefit allows you to set aside pre-tax dollars for your mass transit or parking commuter expenses by contributing a specific monthly dollar amount that will be loaded onto a debit card to use for payment. You can then use this debit card to purchase products directly from transit and off-campus/non-Drexel parking vendors.

The maximum pre-tax amount that may be contributed to both the parking and mass transit account is reflected in the My Drexel Benefits portal. These maximums are subject to change under Federal tax law, and you will be notified if any such changes occur during the year.

Enrollments and changes can be made on a month-to-month basis; no qualifying life event is required. Any changes to your monthly election must be made by the first of the month prior to the month in which the change applies. (For example, March's election must be entered by Feb. 1.) Initial elections will automatically default for future months unless you choose to cancel or change a specific month.

Commuter funds are loaded to your account within the first seven business days of the month, before the effective date of the benefit. For example, May’s commuter funds will be deposited into your account within the first seven business days of April. A ‘smart’ debit card is issued from WEX for FSA and commuter participants. You can use this card to purchase or pay for a train or bus pass, parking expense, etc. You will see your commuter deduction come out of your pay once a month, and it will pertain to the pass for that current month.

Following IRS regulations, these accounts have a “use it or lose it” provision in which unused funds cannot be refunded, so be sure to enroll in only what you need to use on a monthly basis and monitor your account throughout the year to ensure that you are not holding a large balance. Should you notice that you are carrying a large balance, be sure to stop your contributions and spend down the account to a reasonable amount. If you leave the University and have a balance in your Parking or Transit account, you will not be refunded or paid out any remaining balance in the account.

To enroll in the Commuter Benefits, or to change your monthly contribution:

• Log in to DrexelOne.
• Go to the Employee tab and under the My Benefits section, select My Drexel Benefits. This will take you to the benefits enrollment portal.
• Once in the portal, on the right-hand side under Commuter Benefits, select Change.
• Then enter a monthly amount for either Transit and/or Parking.

If you have questions or need assistance, contact the Drexel University Benefit Center at 844.690.3992 or help@mybenefitexpress.com.

You can elect to pay for parking at Drexel parking garages/lots on a pre-tax basis through the convenience of payroll deduction. You will need to work with Drexel Parking Services to set this up. If you park at a Drexel parking lot and have signed a contract with Drexel Parking Services, you should not enroll in the Commuter Program for parking purposes. For additional information, visit the Drexel Parking Services webpage.