What is the significance of the plan year (calendar year) to my flexible spending account (FSA)?

Your enrollment cannot be changed during the plan year unless you have a change in family status and you report the change to the plan within 60 days of the event. Employees should report any change in family status to their agency benefits coordinator.

You must re-enroll in medical and dependent care accounts each year to continue participation.

Only expenses for services incurred during the plan year and your period of coverage may be reimbursed.

The plan year is a calendar year: January 1 through December 31. If you are hired after the plan year has already begun, the plan begins with your first contribution and ends December 31.

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