How Much of My Health Flexible Spending Account (FSA) Rolls Over?
If your employer-sponsored pre-tax plan offers the rollover provision, you may be able to roll over a portion of unused funds from the previous plan year. Please refer to your plan documents to confirm if your plan allows a rollover, and if so, review your plan’s specific rollover provisions. Your plan documents are located in your Vita Flex Member Portal under the Tools & Support tab.
Rollover Minimum Balance
Please review your plan documents to confirm if the following minimum balance rollover stipulation applies to your plan.
If your balance at the end of the Claims Submission Deadline is $50 or more when the plan year ends, those funds will roll over to the new plan year, regardless of whether you make a health FSA election in the following year.
If your balance at the end of the Claims Submission Deadline is less than $50, the balance will only roll over if you made a health FSA election in the following plan year.
If you did not make a health FSA election, any balance less than $50 will be forfeited.
What Is the Most That can Roll Over?
Please review your plan documents to confirm if the following rollover maximum applies to your plan.
The maximum rollover will continue to be the IRS election maximum, which is 20% of the current plan year’s election maximum.
When Will My Funds Roll Over?
Rollovers are processed for the prior year after the Claims Submission Deadline. This typically occurs approximately one month after the Claims Submission Deadline, between April 15th and May 1st for employers with a calendar year plan year.
Will My Dependent Care FSA Funds Roll Over?
Dependent Care FSA does not have a rollover provision.