Flex spending account grace period available through March 15
If you have not used all the money in your 2015 flexible spending account (FSA), there is still 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 2015 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 2015 expenses must be filed before the final filing date of April 14.
Please note that Chard Snyder is the new administrator for flexible spending accounts (FSAs) and health savings accounts (HSAs), effective Jan. 1. If you are enrolled in a medical reimbursement account, limited purpose medical reimbursement account, dependent care reimbursement account and/or a health savings account, please read this advisory for information concerning the administration of these accounts.
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.