FSA Run-Out Periods

As you're busy preparing for the upcoming Thanksgiving holidays, filing claims for reimbursement for your Flexible Spending Account (FSA) is the last priority on your mind. But, you might want to prepare for reimbursement just in case your plan has an upcoming deadline.

Your employer determines whether your FSA plan allows for an extension, or run-out periodA run-out period is a limited time after the FSA plan year ends. It lets you continue filing claims for any expenses that you incurred during the plan year. An FSA is a “use it or lose it” account, so the run-out period gives you the opportunity to avoid losing your unused funds.

Say your plan year ended on December 31, but your employer gives you a run-out period. You would have 90 days to submit claims – meaning your deadline would be extended to March 31.

Note: Not all FSA plans automatically include a run-out period. It’s best to check in with your HR department or FSA Administrator if you are unsure. You can also ask HR or your Administrator about claims processing prior to your deadline. If you prefer to read guidelines about your specific plan, your Summary Plan Description contains important information about your FSA (including about a run-out period). Need to spend down your FSA? Shop for FSA eligible products online via FSAstore.com.

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