10.22.18 – Health Care FSA – Corrected Contribution Limits

Health Care FSA – Corrected Contribution Limits

A Health Care FSA allows you to contribute part of your paycheck on a pre-tax basis to pay for eligible health care expenses throughout the year. The total annual amount you elect will be available to use from January 1 through December 31. Up to $500 of any remaining funds will rollover to the next plan year, the rest will be forfeited.

This important benefit requires annual re-enrollment. Your prior year contribution amount does not automatically rollover. If you participate in the Health Care FSA, you will need to re-enroll for 2019.

Contribution Limits: Up to$2,650
Rollover: Up to $500*

*$500 Carryover of Remaining Account Balance: If you have an HCFSA in 2018, the Plan allows you to carryover up to $500 of any amount remaining in your 2018 HCFSA as of the end of the 2018 plan year. Such carryover amount may be used to pay or reimburse medical expenses incurred during all of 2019. Any unused amount of more than $500 remaining in your HCFSA at the end of 2018 will be forfeited.