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Benefits

2014 Flexible Benefit Plan

Flexible Spending Account benefit change – Effective 01/01/2011 the cost of over-the-counter medicines are not reimbursable through your USI medical expense Flexible Spending Account unless the medicine is prescribed by a physician.

Premium Only Plan - Employee contributions for medical insurance may be deducted on a pre-tax basis.

Flexible Spending Account (FSA) – FSAs allow employees to set aside pre-tax dollars to pay for certain unreimbursed medical and dental expenses and for dependent care expenses.

Per the IRS, you cannot enroll in the medical flexible spending account if you have a Health Savings account; at USI, this applies to all participants in a Lumenos CDHP/HSA health plan. However, CDHP/HSA Participants can enroll in a dependent care flexible spending account.

To learn more about the FSA programs and how they work, read the 2014 Nyhart Enrollment Packet.

The Nyhart Company administers the University's flexible benefit plans. Nyhart will provide employees with a secure identification and password to access their FSA(s) on-line at www.nyhart.com. Nyhart also will provide participants with a debit card to be used for eligible expenses.

Contributions for the calendar year may be used for purchases through March 15 of the following year for unreimbursed medical, vision, and dental expenses only. The dependent care FSA must be exhausted by the end of the calendar year for that year’s election.

Employees must complete a new Nyhart  Election Enrollment Form each calendar year to participate in the flexible benefit plan(s).

You must enroll in this plan annually and cannot make changes during the plan year unless there is a change in status as defined by Federal law.

Changing FSA  Elections During the Plan Year

Generally, you cannot change the elections you have made after the beginning of the Plan Year. However, you are permitted to change elections if you have a "change in status" as defined by Federal law and you make an election change that is consistent with the change in status. Currently, Federal law considers the following events to be a change in status:

  • Marriage, divorce, death of a spouse, legal separation or annulment;
  • Change in the number of dependents, including birth, adoption, placement for adoption, or death of a dependent;
  • Any of the following events for you, your spouse or dependent: termination or commencement of employment, a strike or lockout, commencement or return from an unpaid leave of absence, a change in worksite, or any other change in employment status that affects eligibility for benefits;
  • One of your dependents satisfies or ceases to satisfy the requirements for coverage due to change in age, student status, or any similar circumstance; and
  • A change in the place of residence of you, your spouse or dependent that would lead to a change in status, such as moving out of a coverage area for insurance.

In addition, if you are participating in the Dependent Care Flexible Spending Account, then there is a change in status if your dependent no longer meets the qualifications to be eligible for dependent care.

Forms and Documents

2014 Nyhart Enrollment Packet

2014 Flexible Spending Account Election Form

2014 Health Care Cost Estimation Worksheet

2014 Dependent Care Cost Estimation Worksheet

2011 FSA Plan Document

2011 FSA Summary Plan Description

Specific questions about Flexible Spending Accounts can be addressed by contacting Benefits at 812-464-1781.




Open Enrollment Dates

TIAA-CREF Representative

Lori Matthews of TIAA-CREF will hold individual appointments in the HR Training Room on the below dates. To schedule an appointment, contact 800/732-8353. 

2014/2015 Dates

  • Tuesday, Dec 9
  • Thursday, Dec 11
  • Tuesday, Jan 27
  • Wednesday, Feb 25
  • Thursday, Feb 26
  • Tuesday, Mar 24
  • Wednesday, Apr 22
  • Thursday, Apr 23
  • Tuesday, May 19
  • Wednesday, June 24
  • Thursday, June 25
  • Tuesday, July 21
  • Wednesday, Aug 19
  • Thursday, Aug 20
  • Tuesday, Sep 8
  • Wednesday, Oct 21
  • Thursday, Oct 22
  • Tuesday, Nov 17
  • Wednesday, Dec 9
  • Thursday, Dec 10