HR Fast Facts: Can Employees Use funds From Their Current FSA Plan to Pay for an Expense Incurred During Their Previous FSA Plan?
Can employees use their FSA for their previous year expenses? Find out here.
Flexible spending account (FSA) funds in a plan year can only be used for expenses incurred during the plan year. For example, 2022 FSA funds cannot cover an expense from 2021. However, there is a 90-day runout period at the end of the plan in which employees can submit claims for reimbursement for expenses during that plan year.