How long can funds be carried over? Are multiple year carryovers permissible?
Great news! Funds may be carried over indefinitely. There is no time limit. Keep in mind that your employer may choose to limit the years that carried over funds can be accessed. For example, if you have unused funds from Plan Year 1, you make no election in Plan Year 2, and you don’t submit any claims for Plan Year 1, your employer may choose to have the unused amounts of Plan Year 1 expire at the end of the Plan Year 2. Ask your employer if there are any limits to how long your unused funds may carry over from one plan year to the next.