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Posted on: October 22, 2020

Money Matters: Flexible Spending Account Cash, Use It or Lose It

Flexible spending account debit Card

Stock up on eye drops and antacids, or schedule that teeth-whitening you’ve been wanting. Don’t be one of the unfortunate people who throws away unused Flexible Spending Account (FSA) dollars each year. 

Here’s a health account reminder
If you have a flexible spending account in 2020, now is the time to review your balance. Can’t remember your account balance? Log in to to review your personal account and FSA balances.

You can ONLY carry over up to $500 of your unused health care FSA funds into 2021, as long as you enrolled in a FSA for the coming year. This applies to unused funds in your account as of January 1, 2021. The amount you carry over is available for one year only.

In 2021, Plano transitions from UnitedHealthcare to Diversified Benefits (DB) as our flexible spending account administrator. Your health care FSA rollover amount won’t be added to your DB FSA account until April 2021. 

Remember, you have until December 31, 2020 to use current funds. New Debit cards for health care FSA will be mailed in December for use starting January 1, 2021.  Activate the new card by calling the 800-number listed after 1/1/2021.

Any balance remaining in your dependent care flexible spending account as of December 31, 2020 will be forfeited. 

Review and print a list of over-the-counter (OTC) medicines and supplies which can be purchased with FSA dollars.

Listen to a segment of our 2021 Open Enrollment Q&A Zoom meeting (at 31:30) for details about how rollover FSA health care funds will be handled.

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Posted on: October 14, 2020