October 1 – October 31 Open Enrollment Period for 2015 DCAP and MEDFLEX ends today
The 2015 Open Enrollment for the Dependent Care Assistance Program (DCAP) and the Medical Flexible Spending Account (MEDFLEX) begins October 1st and ends October 31st. These two programs allow employees to pay for eligible expenses on a tax-free basis.
DCAP (Dependent Care Assistance Program)
Depending on your filing status, you may be able to save as much as 30% on dependent care expenses by participating. For the 2015 plan year, you may contribute up to $5,000 of your salary, or up to $2,500 if you are married and filing separately. For additional information, please access DCAP.
MEDFLEX (Medical Flexible Spending Account)
You can get reimbursed for eligible out-of-pocket expenses such as co-payments and deductibles, eyeglasses, contact lenses, Lasik, dentures and orthodontia for yourself, your spouse and qualifying dependents. You may contribute between $520 and $2,500 for the 2015 plan year. For additional information, please access MEDFLEX.
Employees may obtain open enrollment forms from:
the OSC web site at: DCAP and MEDFLEX
the PBS web site at: www.ctpbs.com
or by calling PBS (Progressive Benefit Solutions) toll free at 1-866-906-8023.
All enrollment forms must be postmarked no later than today, 10/31/14. Please note that late enrollments will not be accepted for any reason.
The Qualified Transportation Account (QTA) program lets you pay for eligible transportation and parking expenses with pre-tax dollars. The minimum contribution is $20 per month. The maximum monthly amount for Transit is $130, and $250 for Parking. Participants can enroll in this program at any time.
For more information, contact: Susan Matthews at susan.matthews@uconn.edu