Flexible Spending Accounts – “Use it or Lose it” Rules

Did you know…?  The almost 50% of workers who forfeit funds lost on average over $400 per account.  That equates to $4.2B in money lost.

Know the rules!

• FSA monies expire at the end of the plan year, meaning any money remaining in the account is lost.
• You can use an FSA to pay for qualifying medical expenses (QME) such health care services, co-payments and deductibles as well as prescription drugs, medical equipment and supplies. Check out
• Your annual FSA contribution is available to you up-front, i.e., at any time in your plan year (minus your reimbursements).
• Some employers offer grace periods or rollover options allowing for either an extended reimbursement period or rolling over a portion of your funds into the next plan year. Check with your benefit plan provider!