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How does the run-out period work for the 2020 FSA plan year?
Anyone who had FSA eligible expenses that occurred in 2020 has until March 31, 2021 to submit claims to HealthEquity WageWorks for those expenses.
After March 31, 2021, expenses incurred in 2020 for either the Health Care FSA or Dependent Care FSA plans cannot be submitted. However, any remaining balance will be carried over to the 2021 account(s) to be used for eligible expenses that occur in 2021. This temporary unlimited carryover will be configured in HealthEquity WageWorks’ system the evening of March 17, 2021 and will visually display as being part of the 2021 account balance after April 15, 2021.