Sun, Dec 16, 2018 — 4:52 pm
Flexible Spending Account: Adoption Advantage Account
For the 2019 plan year, employees who are represented by CSEA and UUP, are eligible to enroll in the Adoption Advantage Account.
This type of FSA allows eligible state employees the opportunity to set aside pre-tax deductions for expenses related to adopting a child. Eligible expenses include home study and application fees, reasonable and necessary legal adoption fees, court costs, attorney fees, agency fees, medical services and counseling, travel and lodging fees, and other expenses which are directly related to a legal adoption as defined by IRS guidelines.
Although employees won't save FICA on the amount set aside in adoption assistance accounts, they will save federal and state tax (where applicable). Currently the annual IRS contribution limit for pre-tax payroll contributions to an adoption account is $13,810.
The open enrollment period for the Adoption Advantage Account is November 20, 2018- December 11, 2018. Employees can access more information by visiting the FSA website: flexspend.ny.gov, calling customer service at 1-800-358-7202, or e-mailing email@example.com.