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Flexible Spending Accounts

Flexible Spending Accounts (FSAs) provide employees the opportunity to make pre-tax contributions to an account in their name, from which reimbursements are made for dependent care expenses. A debit card is provided for eligible medical expenses such as co-payments, deductibles, dental, and vision expenses. Flores & Associates administers Colby’s FSAs.

2026 Medical Reimbursement Limit: $3,400

2026 Dependent Care Limit: $7,500 for a single parent or if you are married and file a joint tax return; $3,750 if you are married and you and your spouse file separate tax returns.

You may want to consider a Flexible Spending Account if:

  • You or your family members have out-of-pocket expenses for doctor’s office visits or prescription drugs
  • You did not sign up for Vision Insurance (VSP) and you or your dependents wear eyeglasses or contact lenses
  • You have dental expenses not covered by insurance
  • You pay for daycare for a dependent so that you can work

FSAs require an irrevocable election for each Plan Year and contributions to FSAs are not subject to payroll or income taxes. The amount of your election is then withheld in equal amounts from your paychecks throughout the year. Claims are submitted for reimbursement of expenses incurred during the Plan Year in which contributions are made. Expenses are considered incurred on the date services are rendered, regardless of when you actually pay for them. Dependent care expenses will be reimbursed only up to the amount contributed at the time the form for reimbursement is submitted.

Changes in the election for the Dependent Care Assistance Account may be made only because of and consistent with a “status change event.” Elections for the Medical Reimbursement Account may not be changed during the Plan Year.

Employee account balances remaining 90 days after the end of the Plan year (January 1st – Dec 31st) will be forfeited. Therefore, all claims must be submitted by March 31.

View Account Information Online & Reimbursements

To create an account online or to login, visit FloresHR.

When creating your account, Flores will provide you with a PID and you will need to provide a 9-digit version of your Colby Workday ID number in place of your social security number. For example, if your ID number were 12345, you would make this number 9 digits by adding zeros to the beginning: 000012345. Do not use your social security number.

The health care FSA Debit Card makes using your FSA funds easy. If you need to submit a paper claim, see the Document Library tab on the Flores portal.

Flores Customer Service is available by email at [email protected] or phone by calling  800-532-3327.

For additional ideas on how to use your FSA dollars, visit the FSA Store online.

Related Documents

Login to  www.flores247.com to view their document library for forms and training guides.