Please note: the following applies to Flexible Spending Accounts (FSA) only; this message does not apply to Health Savings Accounts (HSA).
Employees who participated in a Flexible Spending Account during calendar year 2023 are reminded that all eligible expenses incurred during the 2023 calendar year must be submitted for reimbursement to Payflex no later than March 31, 2024. Please submit eligible 2023 claims through the www.payflex.com portal.
Consistent with current IRS guidelines, the University of Hartford also provides a carry-over provision for the healthcare FSA which allows for up to $610 of unused funds to roll from one plan year to the next. Participants that did not exhaust 2023 elections are permitted to have a maximum of $610 of the remaining FSA balance roll over into a FSA account for the 2024 plan year.
In order to be eligible for this roll over provision, participants must have elected the Health Care FSA coverage for calendar year 2024. The roll over is available for one year while enrolled and any unused roll over funds remaining in the account at the end of the plan year will be forfeited. This roll over will be managed by PayFlex and these funds will be automatically transferred upon the conclusion of the run-out period.