FSA Deadlines: Use It Don’t Lose It

From the November 2012 Benefits eNews

If you have funds remaining in your 2012 Flexible Spending Accounts (FSAs) — Health Care, Limited Use or Dependent Care — be sure to keep the following deadlines in mind:

  • December 31, 2012 is the deadline to incur eligible expenses that can be reimbursed from your 2012 flexible spending account(s). Under IRS regulations, you must forfeit any money left in your account after all the year's expenses have been paid.
  • You have until March 31, 2013—90 days after the plan year (Jan.1 – Dec. 1, 2012) to submit a claim for reimbursement to Your Spending Account, the FSA administrator, for expenses incurred during the plan year.
Topics:
Flexible Spending Account (FSA) Your Spending Account™ (YSA)