WSU employees participating in medical flexible savings accounts (FSA) can spend money remaining at the end of the year until March 15, thanks to new rules from the federal Internal Revenue Service (IRS).
Reimbursements requested for medical and dental expenses incurred during the Jan. 1-March 15, 2006 grace period — as well as those incurred during the 2005 plan year — must be mailed or faxed to Fringe Benefits Management Company (FBMC), the plan administrator, by March 31, 2006. Any 2005 contributions remaining in an account after all eligible expenses for the plan year and grace period have been reimbursed will be forfeited.
More information about how the new IRS rule affects your flexible spending account is available on FBMC’s website at https://www.fbmc-benefits.com.
If you have questions, please contact Jamilee Gecase at Benefit Services at 335-1760.
