Flexible Spending Accounts — Year-End Reminders
Got money left in your Flexible Spending Account from the 2008 plan year?
Your Health Care and/or Dependent Care Flexible Spending Accounts (FSA) have an added feature that extends the claim period for reimbursement.
If you have unused 2008 FSA dollars for the plan year that ended on December 31, 2008, these funds can be used to pay for expenses incurred in 2008, plus an extended claim period of January 1–February 28, 2009. However, if there is a remaining balance of 2008 funds and the claim is incurred after February 28, 2009, you cannot be reimbursed by 2008 funds and the remainder of those funds will be forfeited.
The incurred plan year does not change the claims submission deadline. You must submit your claims from the 2008 plan year and the two-month extended claim period to the Office of Human Resources by March 31, 2009. Any funds remaining in an FSA after March 31 will be forfeited per federal regulations.
For your FSA claim and payment information, click on “FSA Online” at hr.osu.edu/benefits/healthflex.htm. This secure web site has all your FSA information for the current plan year and prior plan years. There is also a comprehensive listing of all eligible and ineligible health care expenses.
Important 2008 FSA Plan Year Periods
- Payroll Contribution Period: January 1–December 31, 2008
- Incurred Expense Period: January 1, 2008–February 28, 2009
This 14-month period gives you extra time to incur
your expenses.
- Reimbursement Period: January 1, 2008–March 31, 2009
You have a 15-month period to request reimbursement from your FSA account contributions for eligible expenses.