Employees may participate in the flexible spending account (FSA) program for paid health care and/or child care expense. The spending accounts are funded by a salary reduction program and administered through WageWorks.  

Employees may allocate before-tax dollars to cover anticipated expenses. Prior to the beginning of each plan year, each participant decides the amount of salary to be allocated to each type of plan (health care and/or dependent care). Throughout the year the employee will submit invoices for reimbursement for health-related expenses (including deductibles, copays, non-covered treatments, prescription glasses, doctor's prescribed over-the-counter medication, etc.) and/or for their child care expenses. **Any money left over in a FSA after all eligible claims have been paid may not be returned to the employee. 

Using flexible compensation, an employee "reduces" his/her taxable income. As a result, Social Security, federal and state income taxes are reduced. The more an employee uses flexible compensation, the lower his/her tax base will be, and the more net spendable income the employee will have.

Contact the Office of Human Resources or visit the WageWorks web site to learn more about the benefits, risks, and limits associated with the flexible spending accounts. 

Questions? Email benefits@ltu.edu

Limitations
Lawrence Tech in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend or terminate them.

Every effort has been made to ensure the accuracy of the benefits information in this site. However, if any provision on the benefits plans is unclear or ambiguous, the Office of Human Resources reserves the right to interpret the plan and resolve the problem. If any inconsistency exists between this site and the written plans or contracts, the actual provisions of each benefit plan will govern. Lawrence Tech in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents.