Flexible Spending Account Due Date Reminder
Thanks to changes in the Internal Revenue Service (IRS) regulations, the last day to incur 2019-2020 expenses for HCFSA and DCFSA claims is December 31, 2020. The last day to submit claims for those expenses is January 31, 2021.
You can submit your claims online by logging in to the WageWorks website and clicking the submit receipt or claim button to upload electronic copies of your receipts or Explanation of Benefits (EOBs). You can also use the WageWorks EZ receipts mobile app to manage your benefits.
Keep in mind that the rollover amount for Health Care FSAs has been increased from $500 to $550. If you participate in a Health Care FSA and have an unused balance below $550 on December 31, 2020, that money will be carried over for the current plan year after January 31, 2021. If you have an FSA balance above $550, you will forfeit those funds so be sure to estimate your expenses carefully. Rolling over funds does not change the maximum amount you can contribute for the following plan year.
If you have questions about your FSA or submitting a claim, call the Benefits Solution Center at Health Advocate at 1-866-799-2329.
For more information about FSAs, visit the Flexible Spending Accounts webpage.