Do I have a Run-Out Period for my Flexible Spending Account?

Though big deadlines have passed for many Flexible Spending Accounts (the December 31 FSA plan-year deadline and the March 15 Grace Period deadline, for example), there's another deadline approaching.

Deadlines for Flexible Spending Accounts (FSA) vary depending on your plan-year, and sometimes plans will also have extensions - a Carryover or a Grace Period...or something known as a Run-Out Period. A Run-Out Period is a limited time after the FSA plan year ends during which you can continue filing claims for any expenses that you incurred during the plan year. Since FSAs are “Use-it-or-Lose-it" accounts, the Run-Out Period gives you the opportunity to still file claims.

For example: If your plan year ended on December 31, but your employer gives you a Run-Out Period, you might (typically) 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 FSA Administrator if you are unsure. You can also ask HR or your Administrator about claims processing. If you prefer to read guidelines about your specific plan, your Summary Plan Description contains important information about your FSA.

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