We all received a large addition to our FSA accounts a couple of weeks ago. I wonder where the excess came from? Perhaps it was from the accounts of laid off people who didn’t have time to spend them?
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The email we got literally explained that in detail.
maybe check your inbox, they sent an email on it a couple weeks back then they deposited the money. Also, I wouldn't call $200 a large addition. remember to use your funds early in the year if possible. even though you pay it back over the year they make all funds available for use at the beginning of the year so even if you max it out in January and the quit/get laid off in February, you don't have to pay it back.
My neighbor says that FSAs are for lamers.
There was a notice that came out about what it was.
Unspent FSA $$$ (participant claims not filed by deadline, so $$$ unused) in one year always get distributed among FSA participants the following year.
I could be wrong on this (not an expert on ERISA accounting) but I think laid off people would actually cost the FSA fund if they play their cards right.
FSA dollars become available on January 1, but contributions are made throughout the year.
What I don’t know is does ERISA require the company to account for the full year of FSA for a laid off or resigned employee.
Wellness activities?
You have the same timeframe as a regular employee to spend the funds after separation.
For whatever reason people didn't file claims.