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Healthcare FSA with Carryover
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What happens if I have a carryover balance but I do not re-elect a Healthcare FSA?
If you don’t re-elect a Healthcare FSA, your employer may make some options available to you, including:
- Your carryover balance may be defaulted to a Healthcare FSA for the new plan year automatically; or
- Your carryover balance may default to an HSA-Compatible FSA; or
- You may forfeit your previous plan year balance rather than carry it over to the new plan year.
Ask your employer which option applies to you.