The university offers two types of Flexible Spending Accounts (FSA): a Health Care Account and a Dependent Day Care Account. These accounts will be managed by ConnectYourCare, a BlueCross partner, starting January 1, 2016. If you want to continue your FSAs for the upcoming plan year, you must re-enroll in each of them each year during annual benefits enrollment. You may allocate a maximum of $2,600 to your healthcare FSA and a maximum of $5000 to your dependent daycare FSA. Reminder: Any money left at the end of the FSA period cannot be refunded in accordance with federal law.
If your spouse's employer offers flexible spending accounts, you and your spouse may both allocate the maximum $2,600 amount to each of your healthcare FSAs and a combined $5,000 to your dependent daycare FSAs. This includes spouses that both work for OU.