It depends on the type of Healthcare FSA program your employer has in place. There are three scenarios for funds that are left unspent in your account at the end of the plan year:
- If you have a Healthcare FSA with Carryover, you can carry over up to $500 into the next plan year.
- If you have a Healthcare FSA with Grace Period, you have up to 2½ months after the end of the plan year to use unspent funds before you lose them.
- If you have a standard Healthcare FSA, you lose any unspent funds at the end of the plan year.
Your employer decides on which type of FSA account they offer. To find out which scenario applies to you, log into your WageWorks account or ask your employer.