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Participant FAQ: Funding

This article addresses general frequently asked questions about funding accounts. For more specific information about your plan's funding, please review the specific plan FAQ or contact us for further assistance.

Frequently Asked Questions

Question:  Why does my account show a balance due?Answer: A balance due means there are items or services for which you used your Ameriflex Debit Mastercard®, but you did not send in documentation to verify their eligibility. Once documentation is received, reviewed, and determined to be for eligible items or services, the balance due will be rescinded.
Question:  Do I have to reimburse my employer if I spend more than I contributed to my account before leaving the company?Answer: No. Per the Internal Revenue Service Publication 969, you must be able to receive the maximum amount of reimbursement (the amount you elected to contribute for the year) at any time during the coverage period. The maximum amount you can receive tax free is the total amount you elected to contribute to the FSA for the year.
Question:  If I have a balance in my account at the end of the plan year, will the funds roll over into a subsequent plan year?

Answer: You are provided a "run out" period at the end of your plan year (or date of employment termination, whichever occurs first) to submit reimbursement claims for any unclaimed eligible FSA expenses incurred within the plan year.
 

Depending on how your employer's plan is set up, it is now possible to have up to $610 of unused funds roll over into the next plan year. Effective October 2013, the "use it or lose it" rule (which specified that any unused health flexible spending account (FSA) funds were forfeited at the end of the plan year) was modified to allow for a 2.5 month extension (grace period) to spend down funds OR a rollover of FSA funds. Under this modification, an employer may opt to allow for a rollover of up to $610 for FSAs, in lieu of a grace period.
 

Please check with your employer to verify the specific rules for your plan, and to see whether you have the option to rollover your FSA dollars.

Question:  What happens to my plan after termination?

Answer:  When your employment ends, your benefits do too, but here’s what you need to know for each plan.
 

Flexible Spending Account (FSA)

  • Coverage ends on your last day of employment.
  • You can still submit claims for eligible expenses incurred before your separation date.
  • You’ll have a limited time to submit claims — this is called your “run-out” period.
  • Check with your employer to confirm the exact timeframe.
  • Most likely, your Ameriflex Debit Mastercard® will be deactivated, so you’ll need to submit manual claims.
  • You can be reimbursed up to your full annual election amount — even if you haven’t contributed that much yet.
  • Any unclaimed funds left after your run-out period will be forfeited.

Dependent Care Account (DCA)

Same rules as the FSA:

  • Expenses must be incurred before your termination date.
  • Claims must be submitted within your run-out period.
  • Unused funds after the run-out period are forfeited.

Commuter Benefits (CRA)

  • Manual claims are not allowed due to IRS rules.
  • All eligible expenses must be paid using your Ameriflex Debit Mastercard® while it is active.
  • Once your card is deactivated, your commuter funds will no longer be accessible.
  • Monthly IRS reimbursement limits still apply, even after termination.

Health Savings Account (HSA)

Your HSA is a personal bank account, so:

  • You keep it even after you leave your employer.
  • You’ll receive communication from the bank custodian about managing your HSA going forward.
  • You can continue using the account for eligible medical expenses.

Health Reimbursement Arrangement (HRA)

Rules vary depending on your employer’s plan:

  • Some HRAs allow a run-out period, others do not.
  • Contact your HR department or Ameriflex for specific details on your HRA.

Can I Continue My Benefits?

You may be eligible to continue your FSA and/or HRA through COBRA.

Talk to your HR/Benefits specialist to see if that applies to you.

Note: DCA and CRA plans are not COBRA-eligible.
 

How to Submit a Manual Claim

If your card is deactivated, submit claims by:

  • Logging into your Ameriflex account
  • Using the Ameriflex mobile app
  • Completing a manual Claim Form

Question: Can I cash out my account?


 

Answer:  Every account is set up directly. Contact us at Service@myameriflex.com, and we’ll walk you through your options.