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2009 Flexible Spending Account Funds Still Good in 2010

By Jody Record, Campus Journal Editor
November 25, 2009

Employees who have a balance on their healthcare Flexible Spending Account (FSA) will have until March 15, 2010 to use it toward qualified medical expenses. Qualified medical expenses include such things as copayments, deductibles, prescriptions, dental and orthodontic fees, medical supplies, eye care, and office visits.

An FSA allows an employee to set pre-tax earnings aside to pay for medical expenses or dependent child or adult care. The 2010 extension applies only to health care expenses. Any 2009 dependent care contributions must be used by Dec. 31, 2009 or they will be lost.

New in 2010, if employees re-enroll in a healthcare FSA they will have the ability to use the debit card to continue to access 2009 funds until March 15, 2010. Using the claim form will no longer be necessary during this time period. The debit card will continue to draw on the 2009 funds until March 15, or the funds are exhausted. That’s when it starts tapping 2010 funds.

If an employee wants to pay out of pocket, reimbursement can be applied for using a claim form. (Forms are available at www.usnh.edu/hr or www.wageworks.com.) Also beginning in 2010, employees will have the ability to submit claims via the web.  

An employee who is signed up for direct deposit can have the FSA reimbursement check deposited into his or her bank account.

Any balance on the $500 Health Reimbursement Account (HRA) eligible employees received in 2009 will still be available for use in 2010. The 2010 annual $500 HRA will be funded in January.

If an employee has a healthcare FSA and an HRA, the funds in the FSA will be used first. 

To check the balance or payment activity on an FSA or HRA, go to www.wageworks.com.

Employees should keep the debit card they were issued for their 2009 FSA or HRA to use for 2010 expenses. If a previously issued card will be expiring at the end of 2009, a new debit card will be sent to the employee’s home address in December.

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