FSA / HRA / HSA
FSA Reimbursement for Non-Covered Spouse
Health FSA funds may generally be used to reimburse eligible medical expenses for a spouse or qualifying dependents even if they are not enrolled in the employer's health plan.
FSA / HRA / HSA
Question of the Week - Grace Period and Runout Period
Q: When is the deadline to submit claims for the prior plan year under an FSA and how does that work with the grace period?
**Q: **When is the deadline to submit claims for the prior plan year under an FSA and how does that work with the grace period?
A: It depends on two key plan features: the grace period and the runout period. The grace period gives participants extra time, typically up to 2½ months after the end of the plan year, to incur new eligible expenses. The runout period, on the other hand, is the timeframe after the plan year ends during which participants can submit claims for reimbursement.
For plans that include a grace period, expenses incurred during that extended period can still be submitted during the runout period. Once the runout period ends, no additional claims can be submitted, even if the expenses were incurred during the plan year or grace period. Participants should review their plan deadlines carefully to avoid forfeiting eligible reimbursements.
Benefit Allocation Systems (BAS) provides 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.
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This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
Topics
COBRA
COBRA Offering to Retirees
When a covered employee becomes entitled to Medicare before retiring, a covered spouse may receive up to 36 months of COBRA continuation from the date of Medicare entitlement.
COBRA
COBRA Offering to Retirees
When a covered employee becomes entitled to Medicare before retirement, the spouse may be eligible for up to 36 months of COBRA continuation coverage.