Does anyone have experience with this? When one gets laid off in the middle of the year and also has a FSA contributions - It says that you can get reimbursed for eligible expenses still up to your employment end date up to the total amount elected. Now does that mean the actual amount elected for the entire year or just up to the amount that one has actually contributed through the paychecks up to termination. Thanks! 1|1|Usually it's the full amount no matter what you have put in.|bluh2oeyes|bluh2oeyes@yahoo.com|06:06:04|06/22/2010|
Ask your FSA coordinator or HR department just to be sure. But when I used to work FT for a large company it was the full amount no matter the amount you have already paid in.
Jennifer in North Carolina...the Tar Heel State
2|1|This is what I know.....|brainyblonde|brainyblonde@prodigy.net|06:25:35|06/22/2010|
The FSA amount elected at the beginning of the year must be available for use on Day 1. (IRS rules) However, in the case of a separation of employment, expenses would have to be incurred prior to the termination date to be eligible for reimbursement. Any balances left in the account would be forfeited. You might be able to extend this under COBRA, so check with your HR dept.
Debbie