Is there a grace period Extension for Eligible Expenses and an extended claim filing period?
Employees enrolled in the Unreimbursed Medical or Dependent Care FSAs have until March 15 of the following year to incur eligible expenses for the current plan year. In addition to claiming eligible expenses through March 15 of the following year, the period that employees enrolled in the UMSA or DCSA have for submitting claims for reimbursement has been extended to April 30 of the following year. While this does not eliminate the use-it-or-lose-it rule completely, employees now have a longer period to obtain reimbursement for eligible expenses and avoid forfeiting unused funds. Under the Unreimbursed Medical and Dependent Care Flexible Spending Accounts, any contributions that remain unclaimed after the April 30 deadlines are forfeited. For Tax$ave 2011 members, eligible FSA expenses may be incurred between January 1, 2011 and March 15, 2012. FSA participants must be enrolled with Fringe Benefits Management Company (FBMC) and claims for expenses must be filed with FBMC no later than A
