Less than three months are left this year, time to see how much unused money remains on your FSA accounts. If you are enrolled in the Health Flexible Spending Account (FSA) or Dependent Care Flexible Spending Account (DCFSA) for the 2023 calendar year, you have until December 31 to use the dollars that you pledged for 2023.
If you do not use your entire 2023 Health FSA amount, up to $610 can be carried over into the 2024 benefit plan year. However, you may ONLY roll over FSA money into next year if you have a new 2024 FSA account with a minimum pledge of $100. Otherwise, you will not be allowed to carry funds over and your balances will be forfeited.
The Dependent Care FSA does not rollover and the amount is forfeited if not used by December 31, 2023. The last day to submit flexible spending claims that occurred between January 1, 2023 and December 31, 2023 is March 31, 2024.
Monitoring your FSA account information is easily done by visiting the Diversified Benefit Services website. If you have not set up your account, follow these FSA Employee Account Setup instructions.