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Support & FAQ

Limited Purpose FSA

  • What happens to my Limited Purpose FSA funds at the end of the year?

    It depends on the type of Limited Purpose 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:

    1. If you have a Limited Purpose FSA with Carryover, you can carry over up to $500 into the next plan year.
    2. If you have a Limited Purpose 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.
    3. If you have a standard Limited Purpose FSA, you lose any unspent funds at the end of the plan year.
    To find out which scenario applies to you, log into your WageWorks account or ask you employer. We recommend you estimate your annual out-of-pocket dental and vision care expenses carefully. This savings calculator will help you estimate an annual election amount that's right for you.

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