If I elect to participate in the Flexible Spending Account Plan during my Open Enrollment period, will I be able to use the Flex Card on the first day of the new plan year?
During the implementation of the new plan year, there may be a period of disruption in card use. Your new, or current card will be active 15 business days after the receipt of your Welcome Packet from ProBusiness, or, the beginning of the plan year, which ever is later, for the Health Care Spending Account only. For Dependent Care, Transit and Parking, the Flex Card will be eligible for use only after your first payroll deduction deposit is available in your account(s), due to IRS regulations. For most participants, the card will not be eligible for use until the second pay period of the plan year.
Related Questions
- If I elect to participate in the Flexible Spending Account Plan during my Open Enrollment period, will I be able to use the Flex Card on the first day of the new plan year?
- If I participate in the dependent care Flexible Spending Account (FSA) plan, do I need to report anything on my personal income tax return at the end of the year?
- I participate in a FLEX plan. Are the expenses for cosmetic surgery procedures eligible for Flexible Spending Account reimbursement?
