Can I roll over a remaining balance in my Health Care FSA?
No. FSA funds do not carry over into the new year. Claims incurred in one year must be submitted to the administrator by the end of the annual grace period, March 31 of the following year.
Who is the administrator for FSAs?
WageWorks administers the Health Care FSA and the Dependent Day Care FSA through December 31, 2020. PayFlex will administer the FSAs beginning January 1, 2021.
I understand that over-the-counter (OTC) medications are only covered under the Health Care FSA with a doctor’s prescription. Since the pharmacy does not require a prescription to purchase OTC medications, how can I claim reimbursement?
When you purchase your OTC medication, include your receipt as well as the doctor’s prescription for that item when you submit your FSA claim. Remember that only certain items require a doctor’s prescription, and you can still submit expenses for supplies such as crutches, bandages and blood sugar test kits without a prescription.