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Important Deadline Approaching For Many FSA/HRA Plan Members

03/19/13

  12:25:02 pm, by MedBen5   , 189 words,  
Categories: News, Health Plan Management

Important Deadline Approaching For Many FSA/HRA Plan Members

A reminder for many MedBen FSA or HRA plan members: If you have a balance in your 2012 account that you still need to submit claims for, please do so right away!

Most employers allow a “grace period” to submit reimbursement requests for 2012 expenses. Typically, the deadline is March 31 (check with your plan administrator for the precise cutoff date). If this is the case for your group, all 2012 FSA and HRA claims must be submitted on or before March 31, 2013 to be considered for reimbursement.

Please also keep in mind that if you do not use all of the money in your 2012 FSA account for expenses incurred during the 2012 plan year, IRS regulations dictate that all of the remaining FSA funds will be forfeited. As for HRAs, their balance will usually not be forfeited – they will be rolled over and combined with your 2013 HRA benefit. (Again, this varies from group to group, so check with your plan administrator.) But after March 31, you will no longer be able to use them for 2012 expenses.

MedBen clients with additional questions regarding their FSAs or HRAs may call MedBen Customer Service at 800-297-1829.

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