Can my employer cancel the Flex Spending sec125 plan 1 month into the year?
Wednesday, October 22nd, 2008
Whoa_Phat asked:
My employer is changing over to a High Deductible Health Plan and therefore must cancel my Flexible Spending Account in favor of a Health Savings Account. Our HR department is refusing to roll over my balance on my FSA into a HSA.
What happens to the unused portion of my contributions to the Spending Account? If I go with this plan, my wife will also be on the insurance and will lose her contribution to her FSA.
Am I eligible to use my entire years allotment? Or do we lose our $150.00 we have already contributed?
Pedro
My employer is changing over to a High Deductible Health Plan and therefore must cancel my Flexible Spending Account in favor of a Health Savings Account. Our HR department is refusing to roll over my balance on my FSA into a HSA.
What happens to the unused portion of my contributions to the Spending Account? If I go with this plan, my wife will also be on the insurance and will lose her contribution to her FSA.
Am I eligible to use my entire years allotment? Or do we lose our $150.00 we have already contributed?
Pedro