Plan Year (Benefit Period): January 1, 2020 through December 31, 2020
Coverage Period: Eligibility Start Date through the Eligibility End Date
The Eligibility Start Date is January 1, 2020 for all elections made during the Annual Enrollment Period or before the first day of the Plan Year. For any enrollment elections or changes made during the plan year, the Eligibility Start Date is the Pay Date when the first contribution is made.
The Eligibility End Date is December 31, 2020 (the last day of the plan year) for active participants who make a contribution on the last Pay Date of 2020. If contributions stopped during the Plan Year, then the Eligibility End Date is the Day before the Pay Date when no contribution is made.
Please Note: Only eligible Health Care expenses/costs that are incurred during the participant’s Coverage Period are eligible for reimbursement.
Rollover Amount (if eligible): Up to $550 (remaining amounts in excess of $550 will be forfeited)
The Health FSA plan allows active participants to roll over up to $550 of unspent funds to the following year, providing the following eligibility criteria are met:
- Must be an active participant on December 31, 2020
- Must make a contribution on the last Pay Date of the 2020 plan year; through payroll deduction, COBRA premium, or OTC (Over-the-Counter) payment.
Last Day to incur expenses: December 31, 2020 or Eligibility End Date (if contributions stopped)
Last Day to submit claims: March 31, 2021 (for expenses incurred during the Coverage Period.