Deadline approaching for Flexible Spending
The grace period for employess enrolled in a Flexible Spending account ends this month.
The Flexible Spending acount grace period begins Jan. 1 and ends March 15 following completion
of the calendar year. The grace period provides more time to spend the funds in the flexible spending account. Any unused amounts not submitted for reimbursement by March 31 will be forfeited. Eligible expenses incurred during the grace period (Jan. 1 through March 15) and approved for reimbursement will be paid first from available amounts that were remaining on Dec. 31 of the previous year and then paid from any available amounts for the current Plan Year.
Example: If you elected $1,000 for medical expenses for Plan Year 2015 and have a balance of $200 on Dec. 31, 2015, you can submit qualified expenses incurred between Jan.1, 2016 and March 15, 2016 for reimbursement of the remaining balance.
Access your Flores and Associates account(s) anytime, anywhere! It's as easy as One, Two, Three!