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Frequently Asked Questions Insurance

I have a medical bill I am paying off monthly. It was incurred this year through outpatient surgery. Can I use next year's health care flexible spending account funds to reimburse my monthly payments even though the cost was incurred during the privious year?

No, you can only use this year's FSA funds to pay for an eligible expense incurred during this year, even if you have a payment plan going beyond this year.  Remember, though, that each benefit year has a grace period from January 1 to March 15 of the following year.  If you continue to make payments between January 1st and March 15th , you can get reimbursed with your remaining FSA funds from the previous year.

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