Benefits
Flex Spending Overview
Gilsbar, Inc. is the new administrator for Flexible Spending Accounts (FSAs) for LSU employees. A Flex Spending Account, or FSA, is a reimbursement account that allows you to set aside a certain amount of money each paycheck, pre-tax, to help pay for out-of-pocket healthcare and dependent day care expenses for you and your family. Eligible expenses include, but are not limited to the following: FSA is a "use it or lose it plan." The IRS requires that all money in the account be used during the plan year. Money is non-returnable and cannot be carried over to the next year. Generally, it is better to underestimate your expenses to prevent you from losing funds. This plan requires re-enrollment each year. Please see the attached flier for a general overview of the Flex Spending.
Flex Spending Enrollment Form
For enrollment in the Flex Spending Account plan, please complete the attached form and return to the Office of Human Resource Management between April 1st - April 30th. Administrative fees for participation in the flex spending plan are as follows: Annual administrative fee is $48.72. 12-month employees ($4.06 per month). 9-month employes ($5.41 per month). The plan year is from July 1, 2009 - June 30, 2010. The IRS does allow a 2 1/2 month grace period to incur expenses. Claims must be submitted no later than October 30, 2010. Remember, this is a "use it or lose it plan."
Flex Spending Direct Deposit
Please complete the attached form to sign up for direct deposit.
Flex Spending Claims: Healthcare and Dependent Care claim form
Claims should be faxed to 866-635-1329. A claim is processed 48-72 hours from receipt. If the claim is processed prior to the check run, then the claim will be on the check run for that day. If the claim is processed after the time the check run then the claim will be on the next day's check run. The check run process is automatic. Cut off times for each check run could vary from day to day depending on the number of groups in the queue for that day. It is recommended that employees register on www.mygilsbar.com. Employees who have registered online will receive an email notification when the claim is received and another when it is processed. Each time a claim is paid employees will receive notification of the payment and their remaining balance. If a claim is denied they will also receive an email notification with the reason the claim was denied. On www.myGilsbar.com they will also be able to view the claim form and documentation sent for each claim. The dedicated customer service number for LSU System Employees is 1-866-978-2030. Employees can also email Gilsbar at: flex@gilsbar.com. A copy of the Healthcare and Dependent Care Claim Form is attached below.
Flex Spending: Plan Document
Attached is a copy of the Flexible Spending Plan Document.