If an employer has adopted the Carryover, must a participant have a new-plan-year FSA for the prior year’s balance to carryover?

No. Any funds remaining in an individual’s current plan year FSA will be automatically rolled into the new plan year even if the employee didn’t elect to participate in a new plan year FSA. The participant now has the chance to spend up to $500 of his/her carryover money on out-of-pocket healthcare expenses in the following year.

Skills

, , ,

Posted on

September 15, 2021

We’ve been innovative leaders in providing full-service administration of consumer-driven and traditional account-based plans since 1996.

Our solutions and interactive customer support team are all centered around one goal: helping you help your clients.

Our History
Careers
Our Culture and Leadership

Here you will find details for all our solutions as well as FAQs, forms and guides, eligible expenses and videos.

Resources for Participants
Resources for Employers
Resources for Partners

We’re always
here to help.

IRS Announces 2025 HSA Contribution Limits

IRS Announces 2025 HSA Contribution Limits

The IRS recently announced the 2025 limits for Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs). HSA contribution ...

Follow Us On Social Media