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Note: HRA, FSA, and DCFSA accounts are not available to employees in Puerto Rico and the American Territories.

At Nova Southeastern University, employees can take advantage of various pre-tax spending accounts through Ameriflex, designed to enhance financial flexibility and manage out-of-pocket expenses. These include the Health Reimbursement Account (HRA), funded by NSU, as well as Health Care Flexible Account (HCFSA) and Dependent Care Flexible Account (DCFSA). Together, these programs make it easier to cover health care and dependent care costs efficiently while maximizing your savings.

Health Reimbursement Account

The Health Reimbursement Account (HRA) is 100% funded by NSU when you enroll in an ICUBA medical plan. Contributions are loaded onto your Ameriflex card monthly, based on your coverage level:

• Employee-Only coverage: $60/month
• Employee + Spouse/Family: $120/month
• Dual Enrolled Employees: $180/month

Benefit Details:

• Medical election is required.
• The HRA deposits start at the end of the month on the 2nd month from enrollment.
• Can be used for all participants enrolled in the ICUBA medical plan.
• Unused HRA funds roll over each month and each year.
• Funds do not expire as long as you remain enrolled in an ICUBA plan.
• If you also enroll in the HCFSA, Ameriflex will used those funds before the HRA funds.
• If enrolled for over 36 months, you can use the HRA funds even after separation from the university. Ameriflex charges a monthly account maintenance fee of $10.60.

Healthcare Flexible Spending Accounts (HCFSA)

• Medical plan election is not required.
• Upon election, the full amount selected will be deposited into your Ameriflex account.
• HCFSA's are limited to $3,200 per year.
• You can use HCFSA funds to pay your deductibles and copayments, but not for insurance premiums.
• Use your pre-tax funds for eligible health care expenses for yourself, your spouse, and your eligible dependents.
• For the 2023 Plan Year (April 1, 2023 – March 31, 2024), you can incur expenses through June 15, 2024, and file claims until June 30, 2024.
• The HCFSA operates on a "use-it-or-lose-it" basis. Any unused funds will not roll over to the next benefit year. To ensure maximum benefit, please plan your spending accordingly. Annual re-enrollment is required during Open Enrollment.

Dependent Care Flexible Spending Account (DCFSA)

• Medical plan election is not required.
• Upon election, monthly funds will be deposited into your Ameriflex account.
• Set aside pre-tax funds for eligible dependent care expenses such as daycare, before/after school, babysitting expenses, summer camp, and preschool.
• DCFSAs are limited to $5,000 per year per household, if your spouse is eligible to contribute at their employer make sure you don’t go over the annual combined limit.
• You can use your DCFSA to pay for certain types of care for an adult disabled dependent who is unable to provide self-care.
• Funds are available as payroll deductions are made and must be used for expenses already incurred.
• The DCFSA operates on a "use-it-or-lose-it" basis. Any unused funds will not roll over to the next benefit year. To ensure maximum benefit, please plan your spending accordingly. Annual re-enrollment is required during Open Enrollment.

Please note that the DCFSA account is to only be used for dependent care expenses and not healthcare expenses of any kind.

IRS Contributions Limits

Health Care Flexible Spending Account (HCFSA)

• April 1, 2023 – March 31, 2024: $3,050
• April 1, 2024 – March 31, 2025: $3,200

Dependent Care Flexible Spending Account (DCFSA)

• April 1, 2023 – March 31, 2024: $5,000
• April 1, 2024 – March 31, 2025: $5,000