It’s that time of year to be sure you’ve spent any remaining 2019 FSA funds and turn in all 2019 receipts!
If you participated in the college’s 2019 option for a healthcare Flexible Spending Account (FSA), you have a 75-day grace period allowing you to spend any remaining money in last year’s 2019 account through March 15 of this year, 2020. You can log into your NBS (National Benefits Services) account to see what you still have available to spend from 2019, as well as what you currently have available for 2020.
It is also helpful to know that as long as you spend all the money from 2019 by Sunday (yes...Sunday), March 15, NBS will first pull from your prior year’s remaining amounts before deducting from this year’s current amount. So if you made a large purchase this year whose receipts you haven’t yet submitted, it can also be split between remaining 2019 funds and this year’s 2020 funds if you get it in on time! For instance, if you had $500 left from last year and $2000 this year, you could get $2500 reimbursed for an eligible item such as hearing aids or qualified dental work, so don’t hesitate to gather your receipts and get them in!
Although all 2019 spending must occur by the March 15, 2020 grace period, you can still turn in all 2019 receipts up through March 31, 2020. To find out which items are eligible, visit the NBS Eligibility List page.