Q.- We know if our Health FSA meets certain requirements and if a terminating employee has been reimbursed from his FSA more than the amount he has to contribute for the rest of the year, we don’t have to offer a COBRA election for the FSA. Is a carryover from a prior plan year included in determining if the employee has an overspent account?
A.- Yes. If the FSA allows for a carryover, the dollar amount carried over is included when calculating if the employee has an overspent or underspent FSA.
Benefit Allocation Systems (BAS) provides best-in-class, online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 can Integrate with any insurance carrier for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and many others), and integrate with any payroll system for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and many others).
