Flexible spending account plans allow participants to put money aside pre-tax to pay for certain eligible benefits. A Health Care FSA is for the reimbursement of eligible medical expenses, and a Dependent Day Care FSA is for the reimbursement of eligible day care expenses for a dependent. FSA participants should be aware of their plan’s key dates in order to retain the maximum benefit of FSA participation.
The three key dates that a participant in an FSA should know are: 1) the plan year end, 2) the grace period end (if applicable- last day to incur claims), and 3) the claims run-out period (last day to submit claims). This information should be captured in a plan's Summary Plan Description, and it is also identified in MyEnroll.com through the FSA Balances and History Screen.
Simply, log on to www.myenroll.com, hover over the “Employees” menu located in the blue bar, and select the FSA Balances and History link. All three dates are conveniently located in one screen. The Plan Year End date will be displayed across the top. The Grace Period and Claims Run-out Period will be displayed under each benefit.
If you have any questions or need assistance, please contact your Account Manager or call 800.945.5513.