Why can I change my Plan choice or add a Health Care Reimbursement Account (HCRA) if I forgot to enroll during Open Enrollment or want to change my mind?
The U.S. Internal Revenue Service prohibits ASEA Health Trust Trustees from allowing a participant to change their election mid-year unless the change is caused by a qualifying change in status event. If you have a qualifying change (birth, divorce, change in employment status, etc.), you must notify the Trust and change your election within 60 days of the event. If the ASEA Health Trust violates this IRS rule, the Trust could lose our status as a tax-exempt entity and create tax liability for the Trust and the Trust participants.
Related Questions
- Can I stop, start, cancel or reduce/increase my Health Care Reimbursement Account (HCRA) Plan contribution?
- Are over-the-counter items eligible for reimbursement under the Health Care Spending Account plan?
- Are over-the-counter drugs eligible for reimbursement under the Health Care Spending Account plan?
