Contributions to the Flexible Benefits Program

Your contributions to the before-tax Health, Dental, and Accident Insurance component are your portion of the cost for your coverage under the health, dental, and accident insurance plans you elect. Maximum contributions under this component of the Flexible Benefits Program are the sum of your monthly premiums for the plan year.

Flexible Spending Account (FSA) Contributions

For the 2021 Plan Year you may contribute up to $10,50000 to the FSA—Dependent Care and up to $2,750 to the FSA—Health Care. However, tax law rules may limit your FSA—Dependent Care maximum (see the heading “Maximum

Contributions” heading in the “Flexible Spending Account— Dependent Care” section for more information). Boston University will contribute to the FSA-Health Care if you are enrolled in the BCBS PPO health plan and your BU annual base salary is less than $100,000. The following table shows the University contribution amounts.

Changing or Stopping Your Contributions

Under current IRS regulations, you may change your participation status in the Flexible Benefits Program only during the annual open enrollment period or as the result of a Life or Career Event.

Life or Career Events include:

• Marriage
• Birth or adoption of a child
• Start or loss of your spouse’s employment
• Change in employment status (for you or your spouse) from part-time to full-time or from full-time to part-time or other change in percent time worked
• Change in your daycare provider or the cost of care (Dependent FSA)
• Divorce
• Death of your spouse or other dependent
• Your death
• Your dependent turning age 26
• Unpaid leave of absence or sabbatical for you or your spouse

The change in your participation or contributions must be because of and consistent with the Life or Career Event and must meet all IRS requirements for changing your election. You may not change from one health plan option to another at any time other than the annual Open Enrollment Period. Normally, when you experience a Life or Career Event, you have 30 days from the date of your life or career event to submit your request to make a change to your benefit plan enrollment, and generally the effective date of the change is retroactive to the date of the life or career event, except as otherwise required by law.

In response to the novel coronavirus outbreak (COVID-19), the federal government has extended deadlines for taking certain actions under the employee benefit plans sponsored by the University.  This extension applies to the 30-day deadline for changing your election under the Health Plan as the result of: the loss of other health coverage, addition of a new spouse or dependent by birth, marriage, adoptions, or placement for adoption, the loss of Medicaid or CHIP coverage, and new eligibility for state premium assistance through Medicaid or CHIP. See “Special Temporary COVID-19 Relief for 2020 and 2021”  for more information.

In addition to the deadline extension, there is additional flexibility regarding making changes to your enrollment in the FSA – Health Care and FSA – Dependent Care options as a result of the COVID-19 pandemic.  See “Special Temporary COVID-19 Relief for 2020 and 2021”  for more information.