Health FSA Plans Grace Period For Calendar Year Has Ended!

For those participating in a calendar year Health Flexible Spending Account plan that adopted the grace period, the deadline for incurring expenses against 2013 account balances expired on 3/15/2014.

But it is not too late to submit your receipts!  Most plan provisions permit for you to submit receipts until 4/30/2014.  Your Summary Benefit Plan will provide you with your plan design specifics.

Now What?

Since the grace period has ended, you may be asking yourself what you should do.

Step 1    Access your account and check your 2013 plan year balance.

Step 2    Gather your receipts and submit them for reimbursement.

Yes, it is that easy.

Where Are Those Receipts?

Don’t worry about digging through the junk drawer to find that receipt from6 months ago.  There are two quick ways to gather receipts:

1.  Log on to your medical insurance carrier’s website and access your account.  From there you can print your itemized explanation of benefit statement for 2013.
2. Request an itemized statement of your prescriptions for 2013 from your pharmacist.   Just tell them it is for getting reimbursed through your Health FSA plan.  They will know just what you need!

Both are acceptable forms of documentation and are easy to retrieve and submit with your claim form.

If you have any please questions just contact us here.