Coverage changes will be effective the first of the month following receipt of the application and documentation at UVA HR if received within 60 days of the qualified life event (as of ). Qualified life event change requests, along with appropriate documentation, must be submitted within 60 days of the life event (as of ) and must be consistent with the life event. Review the Qualified Life Events and Requirement Documentation document for a list of life events and required documentation needed to request a change. Workday will only take one additional missing FSA and/or DCA deduction, per benefit, from each future paycheck in addition to any current deduction until all missing deductions are paid.Ĭhanges to your FSA and DCA contributions can only be made during the annual Open Enrollment period each October or after a qualified life event like a loss of dependent eligibility or a birth or adoption. If your Healthcare FSA or Dependent Care Account (DCA) employee deductions aren’t taken from your paychecks because you don’t have enough earnings, the missing deductions will be taken from future paychecks when you again have enough earnings to withhold FSA deductions. If the person chooses to contribute $500 for the remainder of that year, all $500 would need to be spent before the end of the grace period on March 15 of the following year. For example, consider an employee who is hired in October and signs up for an FSA. Keep in mind that contributions are for the calendar year, regardless of when you are hired. Since the money is use-or-lose, make sure you put aside an amount that will be reasonable for you to spend within the allotted time. You may continue to spend unused funds until March 15.* The deadline to submit claims is April 30.
FSAs and DCAs do have grace periods to spend the money beyond year’s end if you did not end your employment during the calendar year and are enrolled in the FSA or DCA program on December 31 of the plan year. Money contributed to UVA FSAs must be used during that year, as funds do not roll over. Time Off Toggle the child navigation of the 'Time Off' list itemĬareers at UVA Toggle the child navigation of the 'Careers at UVA' list item Life Changes Toggle the child navigation of the 'Life Changes' list item Wellness Toggle the child navigation of the 'Wellness' list itemĬareer Development Toggle the child navigation of the 'Career Development' list item Benefits Toggle the child navigation of the 'Benefits' list item
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