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March 31st an Important Date for Many FSA/HRA Plan Members

03/10/17

March 31st an Important Date for Many FSA/HRA Plan Members

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A few reminders for MedBen clients who offer flexible spending accounts (FSAs) and/or health reimbursement arrangements (HRAs) to their plan members:

  • For most FSA and HRA plans that have a January effective date, March 31, 2017 is the final day of the run-out period in which plan members can turn in reimbursement requests for qualified 2016 purchases. Alternately, your FSA plan may allow a "grace period" for members to spend remaining 2016 funds by March 15, but still adhere to the March 31 deadline for reimbursement requests.

    Some FSA and HRA plans may have a different run-out period. If you need clarification about your plan's deadline, just call MedBen Customer Service at 800-297-1829.

  • Most plans that offer HRAs allow remaining funds from the prior year to be rolled over for future use, while some allow up to $500 of FSA funds to be carried over from year to year. But in either case, after March 31 plan members will no longer be able to use those funds for outstanding 2016 expenses. (Note that plans offering the FSA grace period option cannot also offer carryovers, and vice versa.)
  • Plan members who need FSA/HRA reimbursement forms can download them from the MedBen.com website, by clicking on the “Plan Members” button and selecting "FSA and HRA" from the "Forms" drop-down box. FSA members can also confirm whether or not a medical expense qualifies for reimbursement by selecting "IRS-Eligible Expenses" from the "Additional Resources" drop-down box.
  • Additionally, our online service site MedBen Access enables FSA/HRA plan members to keep track of their account balances, claims submissions and payments. Simply visit MedBen.com, select "MedBen Access" and, once logged in, click on “FSA/HRA Online Inquiry” under the “My Plan” section.

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

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