The Flexible Spending Benefits Plan
Open Enrollment Period
        
All NCC Employees including Adjuncts who will be receiving 12 paychecks within the year(January-December) can participate in this program. Aetna Flexible Spending Account(FSA).
        
        FSA is a tax-free way to pay for eligible medical and dependent care expenses so you have more money where it counts- in your paychecks. Just pay your eligible out-of-pocket health care and/or dependent care expenses with pretax dollars (that's money that hasn't been taxed yet). Since money in an FSA is exempt from federal, most state, and payroll taxes, you'll reduce your taxable income and end up paying less taxes. The maximum contribution for this plan is $5,000 for Health Care and $5,000 for Dependent Care and the minimum contribution is $500.
        Some of the eligible expenses are:
  • Deductibles, coinsurance or copays (including prescriptions) as part of your health plan
  • Prescription eyeglasses, contact lenses or saline solution
  • Dental or orthodontia expenses
  • Housekeeper or day care center fees for the care of your children or elderly parents
  • Hearing Aids
  • Chiropractic care
  • Lab fees
  • Over the counter medicines, if your plan allows
  • Mental health counseling
These are expenses that you're already used to purchasing- why not get a tax break in the process?
Enrollment packets are available in the office of Human Resources, Tower 708. You may contact the Assistant Director NardosGetachew@ncc.edu or 516-572-7215
 
The open enrollment period ends Monday, November 30, 2009.
 
-Jerry Schwartz