You still have time to submit eligible claims for PY19 health care and dependent care expenses!
If you have a TexFlexSM
flexible spending account (FSA), you have until December 31, 2019, to submit your claims paperwork for money spent on eligible health care on or before August 31, 2019, and on eligible dependent care on or before November 15, 2019. If you miss this deadline to submit your claims, you may forfeit at least some funds you contributed to your FSA in PY19.
Learn more by reviewing the Online Claim Submission User Guide
What if I don’t submit claims for all the funds in my TexFlex account by the end of 2019? Will I lose them on January 1, 2020?
Dependent care FSA
: If you don’t submit claims incurred by November 15, 2019 for your dependent care FSA by December 31, 2019, you will lose any remaining PY19 funds in that FSA. The November 15 deadline to incur expenses is due to the grace period that applies only to the dependent care FSAs.
Health care and limited FSAs
: These accounts have a carryover feature, which allows you to carry over $25 to $500 of unused funds from one plan year to the next. This carryover option–which does not apply to TexFlex dependent care FSAs–reduces your risk of giving up unspent money in your TexFlex account. You can carry over up to $500
from one plan year to the next. You will forfeit any unspent FY19 funds over $500.
- Please note: For any eligible out-of-pocket expenses you incur on or after September 1, TexFlex will use the health care or limited FSA contributions deposited in the current plan year first. If you exhaust current plan year funds, then TexFlex will use any carryover funds for those current expenses. Carryover funds are used last for current plan year expenses, so they can be applied through the runout period (until December 31) to any expenses incurred in the previous plan year.
- In other words, through the runout period (ending December 31), TexFlex makes reimbursements from health and limited FSAs in the following order:
|Reimbursement of prior plan year expenses from
||Reimbursement of current plan year expenses from
|1. Remaining prior PY funds over $500, until exhausted
||1. Current plan year funds, until exhausted
|2. Carryover funds (up to $500)
||2. Carryover funds (up to $500)
- This ensures the maximum reimbursement for you. Keep in mind that carryover funds up to $500 do not expire.
Learn more at the Program Resources