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Contributed by Cheryl Thomason on 10/17/2012
For those of you who are participating in a HealthCare or DependentCare FSA this is a reminder that FSA dollars are "use-it-or-lose-it" funds. Account balances are not carried over from year to year. If you have any unused funds at the end of the plan year, those funds will be forfeited. That's an IRS requirement.
You have until December 31, 2012 to incur claims. You have until March 31, 2013 to submit your 2012 FSA claims. Please note, this is not a postmarked date it is truly a received date. Claims received on April 1, 2013 or later will be denied and will not be processed.
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