Flex spending account grace period available through March 15

By on February 1, 2017

If you have not used all the money in your 2016 Flexible Spending Account (FSA), you still have time. The state’s FSAs feature an annual grace period that enables participants to continue to use medical and dependent care accounts for eligible expenses from Jan. 1 through March 15.

All 2016 expenses must be incurred by the end of the grace period—March 15—or the IRS “use-it-or-lose-it” rule will apply. Claims for 2016 expenses must be filed before the final filing date of April 16, 2017.

Questions regarding FSAs should be directed to the administrator, Chard Snyder, by calling 855-824-9284 Monday through Friday, 8 a.m. to 9 p.m. EST.

Posted in: Benefits, Your Money