FSA Carryover View in MyEnroll.com

Posted by BAS - 24 April, 2014

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Health Flexible Spending Account Plans (FSAs) may now be structured to allow participants to carry over up to $500.00 of unused funds into the next plan year. The carryover is available only for health FSAs that do not offer a grace period for incurring claims, and the carryover is a limited exception to the use-it-or-lose-it rule.

MyEnroll.com captures an employee’s carryover amount in the personalized employee page in MyEnroll.com. The carryover amount is reflected after the plan’s run out period for submitting claims has ended. To view the carryover amount for a participant, please log on to MyEnroll.com as an administrator and search for the employee using the standard employee search function. From the left hand “Flex Spending Accts.” menu select the “View Acct. Balances & History” link which will take you to the Balances screen. You are able to view the Account type, Annual Election Amount, Carryover from Previous Plan Year, Claims Paid/Denied Year-to-Date, and the current Available Balance.

The carryover amount is available to be used for unreimbursed eligible medical expenses incurred during the entire subsequent plan year. Allowing for a carryover does not impact the maximum amount employees may contribute to the health FSA for the plan year ($2,500 for 2014).

If your health FSA does not allow for a carryover, but you wish to implement one, the plan must be amended, in writing. If the plan has a grace period, that grace period must be eliminated.

Adding a carryover feature to a health FSA may make the plan more desirable for employees and may increase health FSA participation. If you are a current client of BAS, you may contact your account manager to discuss the FSA claim view. If you are not a FSA client of BAS, you may contact our sales team at 1.800.945.5513, menu option #3 or Sales@BASusa.com to learn about our FSA and other online enrollment and administration services.

Topics: MyEnroll360 Feature


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