Question for HR Nesties

KNJepp

If you have an FSA through your employer and leave that job before the end of the year, what "happens" with your FSA?

odear

You either spend it all or you lose it.

almond1123

Your employer says, "Thank you" in most cases.

PAGAS

You lose it if you don't spend it.  And you should be able to spend your entire budget for the year, not just what you have paid into it.

PAGAS

almond1123:

Your employer says, "Thank you" in most cases.

Or...you say "thank you" to your employer (cough cough me leaving my job in February and spending my full FSA

KNJepp

Clarification - so you have to spend the balance of what you've already contributed before you leave or you lose it?

MrsFaz

It's what I call a Use it or Lose it plan.  BUT you can continue it through COBRA and not lose it.

PAGAS

KNJepp:

Clarification - so you have to spend the balance of what you've already contributed before you leave or you lose it?

You can spend the value of the entire year, not just what you have contributed. 

So if I have put in $500 of the $1000 by June and I quit, I can spend $1000 dollars of my FSA before I leave.

KNJepp

MrsFaz:

It's what I call a Use it or Lose it plan.  BUT you can continue it through COBRA and not lose it.

Thanks for clarifying!

kreeper611

I'm dealing with this for my daycare FSA. I submitted a form for reimbursement for daycare paid for two weeks while I was technically still employed. My last day is on paper as 9/2. They wont pay me for charges submitted for 8/15-28. I'm going to appeal since the money came out of my check before my last day but I'm not holding my breath. I basically have lost $250.

odear

kreeper611:

I'm dealing with this for my daycare FSA. I submitted a form for reimbursement for daycare paid for two weeks while I was technically still employed. My last day is on paper as 9/2. They wont pay me for charges submitted for 8/15-28. I'm going to appeal since the money came out of my check before my last day but I'm not holding my breath. I basically have lost $250.

 

That sucks!

I may be wrong, but the rules aren't necessarily the same between healthcare FSAs and Childcare FSAs.

kreeper611

odear:

kreeper611:

I'm dealing with this for my daycare FSA. I submitted a form for reimbursement for daycare paid for two weeks while I was technically still employed. My last day is on paper as 9/2. They wont pay me for charges submitted for 8/15-28. I'm going to appeal since the money came out of my check before my last day but I'm not holding my breath. I basically have lost $250.

 

That sucks!

I may be wrong, but the rules aren't necessarily the same between healthcare FSAs and Childcare FSAs.

They are saying that my last day of employment was the 19th.  I did turn in my notice that day, but technically I "worked" until the 2nd.

OSUx2

kreeper611:

odear:

kreeper611:

I'm dealing with this for my daycare FSA. I submitted a form for reimbursement for daycare paid for two weeks while I was technically still employed. My last day is on paper as 9/2. They wont pay me for charges submitted for 8/15-28. I'm going to appeal since the money came out of my check before my last day but I'm not holding my breath. I basically have lost $250.

 

That sucks!

I may be wrong, but the rules aren't necessarily the same between healthcare FSAs and Childcare FSAs.

They are saying that my last day of employment was the 19th.  I did turn in my notice that day, but technically I "worked" until the 2nd.

If you were on the payroll until the 2nd I don't see how they can say your last day was the 19th.  You wouldn't have been able to get unemployment until you were not working and since you were working until the 2nd I would say you were employed.

odear

kreeper611:

odear:

kreeper611:

I'm dealing with this for my daycare FSA. I submitted a form for reimbursement for daycare paid for two weeks while I was technically still employed. My last day is on paper as 9/2. They wont pay me for charges submitted for 8/15-28. I'm going to appeal since the money came out of my check before my last day but I'm not holding my breath. I basically have lost $250.

 

That sucks!

I may be wrong, but the rules aren't necessarily the same between healthcare FSAs and Childcare FSAs.

They are saying that my last day of employment was the 19th.  I did turn in my notice that day, but technically I "worked" until the 2nd.

 

That is definitely a problem!!