PEBB Eligible Employees: PEBB Flexible Spending Account (FSA) Will Continue 2013/2014 Grace Period

On October 31, 2013, the U.S. Department of Treasury and the Internal Revenue Service announced a change to the flexible spending account “use it or lose it” rule. The new “carryover” option gave employers the option to either allow FSA participants to carry over up to $500 of unused FSA contributions to the next plan year, or continue to offer a grace period of two-and-a-half months.

The PEBB Program has chosen to continue the grace period option. This means that FSA participants will have until March 31, 2014 to claim unused 2013 FSA funds, provided the eligible expense was incurred by March 15, 2014.

To find more information on the flexible spending account, including details on the allowed grace period, visit hrs.wsu.edu/Flexible+Spending+Account

Please contact Benefit Services with additional questions at (509) 335.4521 or email at hrs@wsu.edu.

By Communications staff, Washington State University

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