Reminder about 2012 flexible spending accounts

ASIFlex became Iowa State's new administrator for the health care flexible spending account and dependent care assistance program on Jan. 1. Employees who are enrolled in a flexible spending account for 2012 soon will receive a welcome letter from ASIFlex with instructions on how to enroll in automatic reimbursement and/or direct deposit of reimbursable expenses.

Remember, spending accounts provide for reimbursement of eligible expenses. ASIFlex cannot process reimbursements until it has received the first employee contributions of 2012. The first contribution occurs with end-of-the-month January paychecks; reimbursements will be processed in early February.

Wellmark will continue to process 2011 flexible spending account reimbursements. Eligible expenses for 2011 must be submitted to Wellmark no later than April 30.

Flexible spending accounts (health care spending accounts or the dependent care assistance program) provide employees the opportunity to reimburse health care or dependent care expenses with pre-tax dollars.  More information on flexible spending accounts is available in the benefits section of the human resource services website.