MCPS offers employees a great way to save money on medical and dependent care expenses. Flexible spending accounts (FSAs) allow you to set aside a specified dollar amount from your gross pay—pretax—to pay for qualified out-of-pocket medical and dependent care expenses. Employees can choose to open a medical FSA, a dependent care FSA, or both. Once you choose, indicate the amount to set aside by making a yearly election. To pay for qualified medical expenses, you can use your FSA debit card, or you can submit a claim reimbursement form to the FSA plan administrator, ADP. You will be reimbursed for qualified expenses from the money you have set aside in your FSA.
As further incentive to encourage this cost-saving option, MCPS will match the first $100 of your medical spending FSA.
Don’t Forget!
When calculating how much to set aside in your medical FSA, remember that over-the-counter drugs are not eligible for reimbursement unless prescribed.
Contribution Limits
The maximum amount you may set aside in a medical FSA in 2015 is $2,500. For a dependent care account, you may set aside up to a combined family maximum of $5,000 per year or $2,500 per year if married filing separately.
Ready to Make Your 2015 Elections? Sign up Now Through November 7
Even if you currently are participating in an FSA for 2014, you must take action during Open Enrollment to make your 2015 elections. Enrollment in FSAs only is available online.
Learn More
- Visit the Open Enrollment web page for information about FSAs and assistance using online enrollment.
- Read the updated Flexible Spending Accounts: Save Money on Healthcare and Dependent Care in 2015! for details about the benefits of an FSA.
Call the ADP toll-free hotline at 1-800-228-5762 for assistance with FSAs.
Employee Benefits Open Enrollment is Under Way: October 13—November 7
Reminder: The annual MCPS Open Enrollment for employee benefits began October 13 and will end on November 7. If you wish to make benefit enrollment changes during Open Enrollment, you must submit MCPS Form 455-20: Employee Benefit Plan Enrollment to the Employee and Retiree Service Center (ERSC) no later than Friday, Nov. 7. Any changes made to your benefits will be effective on Jan. 1, 2015.
If you elect to make changes to your benefits, you will receive a confirmation in your MCPS Outlook email account. If you are not making changes to your benefits, no response is required and you will not receive a confirmation.
During Open Enrollment, eligible employees can:
- Enroll in benefits
- Change health insurance carriers
- Make changes to coverage levels
- Add or drop dependents*
- Enroll in a medical and/or dependent care flexible spending account (FSA) for 2015**
*Documentation is required to add dependents.
Learn More
Visit the Open Enrollment web page to:
- Learn about your 2015 benefit options
- See how different medical plans compare
- Download forms to make changes to your benefits
- Enroll in your 2015 FSA(s)
Don’t Delay!
The deadline to make changes to your employee benefits is Friday, Nov. 7. This includes signing up for 2015 FSAs.
