What happens if I terminate or retire before the end of the FSA plan year?
For a Health Care Account, you may request reimbursement through March 31 of the following year, for expenses incurred while you were an active employee on the plan. For a Dependent Care Account, you may submit for reimbursement during the plan year even if the expense was incurred after your separation from the College. You may elect to continue participation in the Health Care Account through COBRA (federal law regarding continuation of health care benefits) by making contributions on an after-tax basis. This option may be desirable for individuals who have a balance in their Health Care Account and will lose it unless he or she elects to continue participation. Please contact a Benefits Specialist if you wish to pursue this option.
