The university has extended the deadline for faculty and staff to use pre-tax funds set aside through their 2021 flexible spending accounts (FSAs) to Dec. 31, 2022. The extension is possible due to the federal Consolidated Appropriations Act passed in 2020.
New ‘Use it or Lose it’ Deadline
Normally, the deadline would be March 15. However, many people have been unable to fully utilize their FSA funds because of disruptions caused by COVID-19. Changes affect health care and dependent care FSAs.
If you have both a 2021 and 2022 Health Care FSA, you can still use your PayFlex debit cards. Eligible funds will first be applied to your 2021 balance. After 2021 funds are depleted (through Dec. 31, 2022), eligible funds will be deducted from your 2022 balance.
The maximum age of eligible employees’ children for whom dependent care funds can be used is 12.
Reimbursement from the Dependent Care FSA is different from the Health Care FSA. You must complete Dependent Care FSA claims online, by smartphone or by submitting a hard copy after the provider has been paid.
Making Changes to Your Flexible Spending Accounts
In most plan years, certain qualified changes in status may provide an opportunity in which you may start or stop participating, or change the amount of your FSA contribution during the plan year. View a list of allowable qualified change in status events.
If You Have Questions...
For details regarding items and services covered by FSAs, view Payflex resources or call (844) 729-3539, TTY 711, from 7 a.m. to 7 p.m. Monday-Friday, and from 9 a.m. to 2 p.m. Saturday.
