1. Go to myUK on the Employee Self Service tab
2. Click Benefits and payment option
3. Click Participation Overview to see all your current coverage and enrollments
Want to save on upcoming health and child care costs?
Directing your money into a Flexible Spending Account lowers your taxable income
If you know you’ll spend money on your health and care for your dependents, an FSA might help you save. You can sign up for or change an FSA each year during benefits open enrollment, or within 30 days of starting employment at UK.
How an FSA helps you save money
You receive your paycheck with income taxes taken out. A flexible spending account allows you to set aside a portion of your paycheck tax free in a dedicated account.
For example, if you’re taxed at 30% and you choose to direct $1,000 from your paycheck into your FSA instead of your bank account, you’ll save $300 on taxes.
Contact TASC
Beginning July 1, 2024, TASC began managing our FSA benefit. They have details on contribution amounts and eligible purchases.
Learn more about TASC
If you have questions about previous claims with ASI Flex, contact them.
www.asiflex.com
asi@asiflex.com
1 (800) 659-3035
You’ll save only if you have known upcoming expenses considered FSA-eligible
As a first step, see if the types of purchases you plan to make are FSA-eligible. FSAs cover child care, elder care, health care services and items.
The full list of eligible expenses is available from our FSA benefits manager, TASC, but these are examples of common eligible purchases.
The full list of eligible expenses is available from our FSA benefits manager, TASC and these are common eligible purchases.
Health care
- Acupuncture
- Birth control pills
- Chiropractic care
- Contact lenses and related materials
- Crutches
- Fertility treatment
- Radon mitigation (with a letter of medical necessity and the appropriate diagnostic code)
- Laser eye surgery
- Over-the-counter (OTC) health items
- Dental care including cleanings, fillings and crowns
- Eyeglasses
- Prescription sunglasses
- Hearing aids
Child and dependent care
Three most common categories:
- Care for a child under age 13 at a daycare, camp, nursery school or a private sitter
- Elder care for an incapacitated adult who lives with you at least eight hours a day
- Expenses for pre-school and after-school child care (costs billed as tuition are not eligible)
Three types of FSAs and how they work
Choose one or more FSA based on what you’ll buy and your insurance
After you review the eligible expenses and estimate your savings, you’ll know whether an FSA makes sense for you in the year ahead. If you’re ready to start or continue an FSA, here’s an overview of the three account types you could select.
All three FSA options are managed by TASC and have a $250 minimum deposit, but each has different eligible expenses and deposit limits. You can participate in more than one if you’d like.
FSA for dependent care
Deposit up to $5,000 per household to spend on eligible child care and elder care expenses each year.
FSA for health care
Deposit up to $3,050 to spend on eligible medical expenses each year.
Limited health FSA with Saver health insurance
Because Saver insurance includes a health savings account (HSA), the optional health FSA is limited to eligible expenses in the dental and vision categories. Deposit up to $3,050.
All three FSAs run on our fiscal year July 1 - June 30
Your deposit goes on a debit card valid for the year
FSAs are designed for you to spend the funds you saved within the same fiscal year by June 30.
No funds will roll over for dependent care, but up to $610 will roll over for the health care and limited purpose FSAs.
Every year, it’s up to you to make a new deposit or not
You will not be automatically re-enrolled in your FSA each year. If you choose to continue, you’ll need to enroll during benefits open enrollment and select the exact amount you wish to deposit.
We’ll share updates about deposit limits every year during open enrollment.
Deadline to spend: June 30 each year
Any remaining balance in your ASI Flex account will expire on June 30. Beginning July 1, funds will move to our new FSA vendor, TASC.
Say hello to TASC!
UK has a new FSA vendor beginning July 1, 2024. We are moving from ASI Flex to TASC. TASC works like ASI but provides UK employees with more benefits including MYCash funds. FSA funds from ASI Flex will transfer over to your TASC account July 5, 2024. Be sure to check your TASC account online or on the mobile app.
FSA plans managed by TASC are convenient using a Mastercard and a mobile app.
With the TASC Mobile App you track and manage all benefits and access helpful tools anywhere and anytime.
Conveniently access and spend your reimbursement dollars on any purchase with MyCash.
MyCash is an individual cash account that securely holds your reimbursement funds until you spend or move them.
When you don’t use your TASC Card to pay for an eligible expense, you can submit a request on the app or online for reimbursement.
You then choose how to spend your MyCash funds. You can spend them like cash wherever Mastercard is accepted.
News
Financial well-being benefits
Flexible spending accounts are available to most regular (non-STEPS) employees. If your status is less than full time, review our eligibility details.
Contact our office
Monday-Friday from 7:30 a.m. to 5 p.m.
(859) 257-9519 option 3
benefits@uky.edu
204 Mandrell Hall