What are my options under my healthcare flexible spending account Health Plan after my coverage ends?
Under most healthcare flexible spending account (FSA) Health Plans, your coverage ends, and your ability to make pre-tax contributions ends, on the date you cease to be an active employee. Whenever it ends, you may be able to continue your coverage for the remainder of the calendar year under the FSA Health Plan, pursuant to COBRA, by making after-tax contributions (unless such continuation is specifically prohibited by the plan). Your after-tax contributions will equal 102% of the amount you were contributing on a pre-tax basis (or the amount you and your employer were jointly contributing, if applicable) before your coverage ended.
Related Questions
- As a new employee, my coverage was effective July 1 under the flexible spending account plan. Can I submit health care expenses incurred in May?
- What are my options under my healthcare flexible spending account Health Plan after my coverage ends?
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