SouthFlex - Flexible Spending Account Plans
Enrollment Information
Health Equity Inc. provides claims administration for the SouthFlex Flexible Spending Accounts, and will continue to offer the Visa® Reimbursement Account Debit Card. When you incur a qualified medical expense, you will be able to pay with the HealthEquity® Visa® Reimbursement Account Card or submit the expense through the online tool for reimbursement. It is important to remember to save all receipts as you may need them for reimbursements and to possibly validate your expenses.
In order to participate in SouthFlex, you must enroll each year. Even if you are currently enrolled in SouthFlex, you must make a new enrollment election in Employee Navigator to participate in the 2025 plan year. The deadline to enroll is Friday, October 25, 2024 at 5:00 p.m.
The maximum dollar limitation on voluntary employee salary reductions for contributions to Health Care Flexible Spending Accounts is currently $3,200.
The maximum annual employee salary reduction contribution allowed for the Dependent Care Flexible Spending Account remains at $5,000 or $2,500 for married taxpayers filing separate returns.
The 2024 annual limit on employee salary reduction contributions to the Health FSA is currently $3,200. The IRS will announce 2025 FSA limits in late 2024. Employees that elect the full annual election of $3,200 for 2025 will automatically be enrolled in the newly released maximum limit.
- Unused employee contributions to the Health FSA for the 2024 plan year that are carried over into the grace period for the 2025 plan year will not count toward the 2025 plan year limit and must be used no later than March 14, 2025 (see below for impacts associated with a 2025 HDHP enrollment).
- The annual maximum employee salary reduction contribution for the Dependent Care FSA will remain at $5,000, or $2,500 for married taxpayers filing separate returns. Dependent Care 2024 account expenses must be incurred by December 31, 2024.
- The filing deadline for 2024 Health and Dependent Care accounts is April 15, 2025.
New for 2025:
The grace period associated with the health care flexible spending accounts will be eliminated and replaced with a rollover provision for 2025 accounts. Funds remaining in the health care FSA at the end of the 2025 plan year will rollover, up to the amount allowed by the IRS, to be used through the end of the 2026 calendar year.
Dependent Care accounts in 2025 will now provide a grace period for use of dependent care funds. Participants with balances remaining at the end of 2025, will have until March 15, 2026, to incur eligible dependent care expenses and until April 15, 2026, to file for dependent care reimbursement.
Online Benefits Enrollment
We are excited to provide Employee Navigator for online employee benefits enrollment. Employees are required to login to view benefit elections, make changes to health insurance enrollment, enroll in new coverage, add or remove dependents, enroll in SouthFlex for plan year 2025, add VSP vision coverage, add life insurance beneficiaries, enroll in Aflac policies (see below) and much more!
To register, as a new user, please visit: https://www.southalabama.edu/departments/financialaffairs/hr/jagsopenenrollment/online-benefits-enrollment.html
Employees are required to login to Employee Navigator to confirm benefit elections, verify dependent demographics, and make beneficiary designations for life insurance.
Need assistance? Call 1-800-273-0873 to speak with a Benefit Navigator or schedule an individual appointment by scanning the QR code above.
Open Enrollment elections in Employee Navigator must be made no later than 5:00 p.m. on Friday, October 25, 2024.
