Can retirees participate in an FSA?
No. Your participation in Flexible Spending Accounts ends on the last day of the month prior to your retirement date. However, if you were enrolled in the health care spending account as an active employee, you may elect to continue your participation for the remainder of the plan year under COBRA (the Consolidated Omnibus Budget Reconciliation Act of 1985). If you elect to continue coverage under COBRA, you will receive a monthly invoice for your health care spending account contributions. Your contributions to a health care spending account will be made on an after-tax basis.
Related Questions
- Im on the HDHP and participate in the Health Savings Account (HSA). Can I also participate in the Health Care Flexible Spending Account (FSA) through WageWorks?
- Are reemployed retirees eligible to participate in the Defined Contribution Plan or the Combined Plan?
- Can IBM retirees participate in On Demand Community?
