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What happens to my FSA if I don’t use all of the funds deposited?

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What happens to FSA funds at the end of the year?
Unused money in an FSA is handled in one of three ways, based on the plan design for the group:
  • Forfeited at the end of the plan year
  • Rollover of up to $550 of the balance to the next plan year. Remaining balances are then forfeited.
  • Grace Period allows expenses in the first few months of a new plan year to be paid with old plan year funds. Remaining balances are then forfeited.