The FSA “Use-or-Lose” rule has been modified to allow a carryover amount for the Healthcare FSA and Healthcare Limited FSA, and a grace period for the Dependent Care FSA at the end of the plan year.

• Only expenses incurred during your period of coverage can be reimbursed by the FSA. Expenses incurred before or after the period of coverage are not reimbursable.
• An expense is considered “incurred” when you are provided with the care that gives rise to the expense, not when you are formally billed, or pay for the service.
• Up to $610 of unused dollars in the Healthcare FSA or Healthcare Limited FSA at the end of the 2024 plan year may be carried over; any amount greater than $610 will be forfeited to the plan sponsor after the claims filing deadline. Claims must be submitted no later than February 28 of the following year.
• The Dependent Care FSA allows for a grace period that provides an additional 2 ½ months following the end of a plan year to incur expenses. Any balance left after the claims filing deadline will be forfeited to the sponsor. Claims must be submitted no later than April 15 of the following year.

Your election is irrevocable. You cannot change or cancel your election during the plan year unless you have a qualifying Change in Status event, and your adjusted election is consistent with such a change.