![]() ![]() Once you have enrolled in the medical care account, you will be issued a PayFlex Debit card that will be good for five (5) years. Download the PayFlex card flyer (pdf) for more information. There is no requirement to use the debit card you may destroy it and, if you decide in the future that you would like one, you can request one from PayFlex. It provides information on when an employee can begin to participate in the plan and how to file a claim for benefits: FSA summary plan description (pdf) Cornell offers medical and dependent care flexible spending accounts through PayFlex.Ī summary plan description tells participants what the plan provides and how it operates. Enrollment is required each year that you want to participate. You are then reimbursed with tax-free money. In most, but not all, states you will save on state income taxes, too! When you have an eligible expense, you file a claim. This means you save on your federal income taxes and Social Security taxes. ![]() You put money into either or both accounts through payroll deduction before your taxes are calculated and deducted. They help you reduce your out-of-pocket expenses by taking advantage of a federal law that gives you an immediate tax break when paying for services covered under the program – services that you have to pay for anyway. These accounts are not insurance coverage. Cornell understands this and offers voluntary flexible spending accounts for medical and dependent care reimbursements. The same is true for dependent care expenses if you need childcare or care for elderly parents. Medical, dental, and vision expenses can sometimes put a strain on your monthly finances, even if you have insurance coverage. Save money pre-tax for medical and childcare expenses with flexible spending accounts through PayFlex. Equal Education and Employment Opportunity.Divisional Belonging at Cornell (BAC) Council.Equal Opportunity and Affirmative Action.Endowed & Cornell Tech Faculty Tenured Phased Retirement.Contract College Tenured Faculty Phased Retirement.Living & Working Outside New York State.Faculty/Academic Staff Medical & Parental Leave. ![]()
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