2022 Flexible Spending Account Opportunities
Due to federal relief opportunities that impact Flexible Spending Accounts (FSAs), the University is able to extend this opportunity to faculty and staff to change FSA elections, spend FSA money, and reimburse with FSA accounts.
FSA Spending Extended from March to December in 2022
The grace period for spending 2021 FSA accounts is extended to December 15, 2022, and the deadline to reimburse yourself and submit receipts is extended to December 31, 2022, due to a federal relief opportunity passed in response to COVID-19.
These dates are extended from the regular March deadlines you may be accustomed to. FSAs are still a “use it or lose it” benefit where money is no longer available to you after the deadline, but this year, you have extra time due to federal legislation about COVID-19’s impact.
By December 15: Finish your spending
You may spend remaining dollars in any 2021 FSA account (Health Care, Dependent Care, Limited FSA) until December 15, 2022. Find eligible expenses or check your FSA account balance.
If you elected an FSA for 2022, the spending grace period will go back to March 15, 2023.
By December 31: Submit your receipts for reimbursement
For any expense you “incur” (items or services you’ve received but haven’t done the FSA paperwork for yet), remember to submit your receipts by December 31, 2022, to “reimburse” (pay yourself back) from any other accounts you’ve used to pay at the moment.
If you elected an FSA for 2022, the grace period to submit expenses for reimbursement will go back to March 31, 2023.
Questions about FSAs? Feel free to contact a Wex (formerly Discovery Benefits) FSA representative by calling 1-844-561-1333, or a University OHR Contact Center representative by calling 612-624-8647 and choosing Option 1, calling 800-756-2363, or emailing email@example.com.