Flexible Spending Accounts
Can I change my Medical Care or Dependent Care election at any time?
Once you have made an election to a Medical Care and/or Dependent Care FSA and the plan year has begun you cannot change your election unless you have a change in status or other election change event authorized by the IRS. Any election change you make must be on account of and consistent with an authorized event.
Events allowing for election changes will fall into one of the following categories: a change in marital status, a change in number of dependents, a change in employment status, a dependent satisfies or ceases to satisfy dependent eligibility requirements, adoption assistance, cost or coverage changes (dependent care only), and change events under various government mandates such as HIPAA, and COBRA. There are numerous rules regarding status changes. Please consult your Human Resources Department if you have a question as to whether you have experienced an election change event.
View additional questions:
- What is a Flexible Spending Account (FSA)?
- How much can I contribute to each account?
- What expenses are reimbursable under each of the plan?
- How do I enroll in a Medical Care or Dependent Care FSA?
- Do I have to participate in my employer's medical insurance plan to enroll in the Medical Care FSA?
- What's better for me, the Dependent Care FSA or the Federal Dependent Care Tax Credit?
- Can I change my Medical Care or Dependent Care election at any time?
- When can I submit a claim for reimbursement?
- How do I submit a claim for reimbursement of my expenses?
- What happens if I terminate employment during the year?
- What happens if my expenses are lower than anticipated?
- Are there any filing requirements at the end of the year when I file for my income taxes?