FSA – Carry Over to Next Plan Year

 

Summary of 2018 Carry-Over Feature

 

For the regular Medical FSA, Limited FSA and Dependent Care FSA, all claims must be incurred between 1/1/2017 and 12/31/2017.  Members have until 4/30/2018 to submit claims that were incurred between 1/1/2017 and 12/31/2017. 

 

Members can carry over up to $500 in their Medical FSA and Limited FSA from 2017 to 2018.  We automatically pay claims out of the carry over balance first, and then go into the new plan year election. NOTE:  There is no carryover provision on the Dependent Care Accounts and any funds remaining on 4/30/2018 will be forfeited.

 

Question:

Is the carry-over automatic or does the member have to elect to carryover?

Answer: 

It is automatic. 

 

Example:  If you have $500 or less in a healthcare FSA or L-FSA on 12/31/2017, it will automatically carry over with no action needed by the member.   If you have $600 in either account on 12/31/2017, then $500 will carry over and $100 will be forfeited.

 

Question:

Can the carry-over FSA amount be used all year or does it have to be used by 4/30/2018?

Answer:

It can be used all year.

 

Question:

If I choose to enroll in the CDHP in 2018, will my FSA Medical or Limited FSA fund still carry-over from 2017? 

Answer:

No, you must deplete your 2017 FSAM and LFSA by 12/31/2017.

 

 

 


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