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Flexible Spending Accounts 101 (FSAs)

What Happens To An FSA If Employment Is Terminated

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If your FSA is employee funded: You have a right to the whole annual election. If there is money in the account when you get laid off, and no additional expenses were incurred while employed so you can't get at the money, you have the right to continue the plan as a COBRA right just like the health plan. (To learn more, see COBRA.) You can continue to put money into your FSA regularly for the rest of the plan year. You cannot continue the plan past the end of the year. (In this situation you have to be particularly careful to turn in your bills in a timely manner.)

If your FSA is employer funded: The plan ends on the termination of your job or when you go on disability.

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