The Smithsonian offers two flexible spending account (FSA) options to eligible Trust Fund employees, a Health Care FSA and a Dependent Care FSA. Both options allow employees to set aside pre-tax dollars to use to pay for eligible health care and/or dependent care expenses, depending upon the type of account the employee elects. Potential tax savings will depend upon your individual tax bracket. Trust employees may enroll in either or both options. The administration of these flexible spending accounts will be managed by CONEXIS.
To be eligible, you must be a Trust Fund employee and have an official tour of duty of at least 40 hours per pay period and be serving on an indefinite appointment or a temporary appointment of at least 90 days. Intermittent employees and part-time employees working less than 40 hours per pay period are not eligible to participate.
Health Care FSA
Participation in a health care flexible spending account (HCFSA) allows you to pay for qualified unreimbursed medical, dental and vision expenses, not covered by insurance or reimbursed by another insurance plan, with pre-tax dollars. Eligible expenses include those incurred by you, your legal spouse (as defined by The Smithsonian's group medical plan) and your tax dependents. Some examples of eligible expenses include copays and deductibles not covered by your medical plan, prescription eyeglasses, contact lenses, contact lens solution, laser eye surgery, prescription medication, some over-the-counter medications with a prescription, orthodontic expenses, and more.
Dependent Care FSA
Participation in a dependent care flexible spending account (DCFSA) allows you to set aside pre-tax dollars to pay for employment-related dependent care expenses that you and/or your spouse (if married) incur due to your need to work, look for work, or attend school full-time. Some examples of eligible dependent care expenses include before and after school care for children under age 13, nursery or pre-school tuition, and summer day camps.
Employees participating in the Health Care FSA will receive the CONEXIS Elite Benefit Card. This is a stored-value card that simplifies the process of paying for qualified health care flexible spending account (FSA) expenses. As an alternative to the traditional method of filing claims, the CONEXIS Elite Benefit Card lets employees electronically access the pre-tax contributions set aside in their healthcare FSA accounts. Itís easy to use and works at most healthcare related merchants where Visa is accepted. The FSA card saves time and money because the majority of the time employees will not need to send in copies of receipts to obtain reimbursement. Employees should still keep a copy of their receipts, as there may be times when CONEXIS will require a receipt. When employees enroll in the Healthcare FSA, the CONEXIS Elite Visa Benefit Card will be mailed to the home address on record. For more information on this feature, please go to the following URLs for details:
Employees will be able to enroll in one or both of these options online during Open Season only, which occurs annually between mid-November and mid-December. During other times of the year, you may enroll or change your current plan year election only if you incur a life event that would permit a change. You must contact the SAO Benefits Office at (617) 495-7371 for enrollment information and the applicable form.
Refer to the following FSA educational materials for further details:
Health Care FSA Claim Form
Dependent Care FSA Claim Form