Can I change my election amount when the (medical) Plan Year 2010 begins on November 1, 2009?
Under Section 125 of the Internal Revenue Code, your Flexible Spending Plan election is irrevocable for the Plan Year. Changes to your plan are allowed, but only when you, your spouse, or a dependent experience specific qualifying events. Please refer to the Flexible Spending Summary Plan Description for a listing of qualifying events, or visit asiflex.com for more information.
Related Questions
- I elected to contribute $100 per month or $1,200 for the plan year into a medical expense FSA. If I have $100 in my account in September, but incur a $300 expense, how much can I be reimbursed?
- Can I change my election amount when the (medical) Plan Year 2010 begins on November 1, 2009?
- What is the plan year for Medical Reimbursement on my Flexible Spending Account?
