Can I change the amount I am contributing to my flexible spending account (FSA) during the plan year?
Generally, you cannot change the elections you have made after the beginning of the plan year. However, there are certain situations where you can change your elections. These situations are defined by the IRS and outlined in the plan's Summary Plan Description (SPD). See your Human Resources Department for a copy of the SPD and to submit a qualified change of status request to change your election.
You are permitted to change elections if you have a "change in status" and you make an election change that is consistent with the change in status. Currently, federal law considers the following events to be a change in status:
- Marriage, divorce, death of a spouse, legal separation or annulment
- Change in the number of dependents, including birth, adoption, placement for adoption, or death of a dependent
- Any of the following events for you, your spouse or dependent - termination or commencement of employment, a strike or lockout, commencement or return from an unpaid leave of absence, a change in worksite, or any other change in employment status that affects eligibility for benefits
- One of your dependents satisfies or ceases to satisfy the requirements for coverage due to change in age, student status, or any similar circumstance
- A change in the place of residence of you, your spouse or dependent that would lead to a change in status, such as moving out of a coverage area for insurance
You may be reimbursed for expenses for any child until the end of the calendar year in which the child reaches age 26. A child is a natural child, stepchild, foster child, adopted child, or a child placed with you for adoption. If a child gains or regains eligibility due to these new rules, that qualifies as a change in status to change coverage.
Still Have Questions?
If we have not answered your questions, don’t worry. Please contact customer service for more information.