Last Chance for Section 125-Flexible Spending/AFLAC
If you missed the signup and would still like to participate, please contact the Benefits Office at Ext. 5398 by Nov. 22.
The College offers a Section 125 option, allowing eligible staff members to pay with pre-tax dollars eligible out-of-pocket health care and/or childcare costs. Participating employees can elect to set aside up to $2,600 for health care expenses and/or up to $5,000 for childcare expenses on an annual basis. If you have a qualifying event, you may make changes to that amount. In late 2013, the IRS relaxed the “use it or lose it rule.” Participants who have $500 or less left over for 2017 can rollover that amount and use those funds for eligible expenses in 2018.
A new election form MUST be signed by Nov. 22, 2017, in order to participate in 2018.