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Human Resources
University of Mississippi

Flexible Spending Accounts

A Flexible Spending Account allows you to set aside pre-tax money for reimbursement eligible out of pocket daycare and medical expenses. This benefit allows you to save on your take home pay as you are not paying taxes.

Provider:

Southern Administrators and Benefit Consultants (SABC)

Contact Information:

https://www.sabcflex.com

Eligibility:

Benefits-eligible employees, their spouses and dependent children

Coverage:

See a list of generally permitted medical expenses

See a list of generally eligible dependent care services

Cost:

Employee sets aside pre-tax income.  There is no charge for the service.

SABC:  Hours of Operation

Monday – Thursday     8:00 AM – 5:00 PM

Friday                           8:00 AM – 4:00 PM

Flexible Spending Account Deadline Extended for 2024 Elections

Employees have until Thursday, December 14, 2023 to make changes to Flexible Spending Accounts for calendar year 2024.  The Benefits Enrollment/Change Form must be completed to elect new enrollment, make changes to an existing account, or cancel contributions to a Medical Reimbursement and/or Dependent Care account. No action is necessary for participants who wish to maintain the same annual election for 2024.

If a 2023 FSA Enrollment Form is not received by the given deadline, the annual election for 2023 will rollover to 2024.

Forms may be submitted here via Secure File Upload, via fax to (662) 915-5836, or via drop off to the Human Resources Department  located in the Jackson Avenue Center (central entrance).

Types of Plans

Medical Expense Reimbursement Plan – You can use funds in your FSA to pay for certain medical and dental expenses for you, your spouse if you’re married, and your dependents.  The annual limit per employee for calendar year 2023 is $3,050.  The limit will increase to $3,200 for calendar year 2024.

  • You can spend FSA funds to pay deductibles and copayments, but not for insurance premiums.
  • You can spend FSA funds on prescription medications, as well as over-the-counter medicines with a doctor’s prescription. Reimbursements for insulin are allowed without a prescription.
  • FSAs may also be used to cover costs of medical equipment like crutches, supplies like bandages, and diagnostic devices like blood sugar test kits.
  • See a list of generally permitted medical expenses.

Dependent Care Reimbursement Plan –  Dependent Care FSA (DCFSA) is a pre-tax benefit account used to pay for eligible dependent care services.   It’s a smart, simple way to save money while taking care of your loved ones so that you can continue to work. To participate, both the employee and their spouse must be employed or enrolled as a student.  The annual limit per family is $5,000.

Additional information can be accessed on the Southern Administrators and Benefit Consultants (SABC) website.

How do I File a Claim?

You use your FSA by submitting a claim to the our administrator, Southern Administrators and Benefit Consultants (SABC) with proof of the medical or dependent care expense and a statement that it has not been covered by your plan. You will then receive reimbursement for your costs.

Claims may be submitted via the following methods.

  • Online submission:  Submit a claim via the Southern Administrators and Benefit Consultants (SABC) secure portal which can be accessed at https://www.sabcflex.com/claims. This simple and user friendly option allows the participant to enter relevant information and attach receipts by uploading jpg, gif, png, or pdf images.
  • Paper Claim:  Complete a Request for Reimbursement form and submit to SABC along with supporting documentation via fax or mail.  Contact information is provided on the reimbursement claim form which can be accessed at https://www.sabcflex.com/content/submit-claim
  • Mobile App:  Submit a claim via the SABCFlex Mobile App for smartphones.  Using the camera on your phone, take a picture of medical receipts and submit the claim for reimbursement.

Participants have 60 days into the new plan year in which to request reimbursements for eligible expenses incurred in 2022.  All claims must be received by Southern Administrators & Benefit Consultants (SABC) by March 1, 2023 to receive reimbursement.

To check your account balance, login to your account via the customer service portal. https://www.sabcflex.com/portal

Unused Funds

In accordance with the Consolidated Appropriations Act (CAA), rollover amount for unused money in the 2023 Medical Reimbursement account is $570. This rollover will occur March 1 after the February 29 reimbursement deadline has expired. The rollover provision does not apply to Dependent Care.

Please note, when making your election for 2024, the rollover amount will be $640 for the Medical Reimbursement account.   The rollover provision does not apply to the Dependent Care account.

Resources

FSA Store  (Take the guess work out.  Shop for covered reimbursable medical-related items.)

Direct Deposit Change Form

Medical Necessity Form

Section 125 Plan Document

Informational Video