Reminder on Deadlines for Submitting Your Flexible Spending Account (FSA) Claims

If you have a Flexible Spending Account (FSA), make sure you meet the deadlines to incur and submit eligible expenses. To be reimbursed from your 2023 Health Care FSA, you must incur eligible expenses by December 31, 2023. Then, submit and substantiate your expenses by March 31, 2024.

An FSA allows you to be reimbursed for certain out-of-pocket expenses with tax-free dollars. Since these are spending accounts, the money should be spent. Eligible expenses include:

  • Medical (post-deductible only if you are also in the HDHP and HSA)
  • Dental
  • Vision
  • Dependent Day Care

How to Pay for Eligible Expenses

For the Healthcare FSA, you can use your payment card from the FSA administrator (Optum) at the point of sale or service. You can also pay for your eligible expenses with a personal credit card, a debit card, cash, or check and submit your eligible expenses for reimbursement through Optum’s mobile app or website.

How to Submit Eligible Expenses for Reimbursement

The most efficient way to submit your eligible expenses for reimbursement is electronically by using the Optum mobile app or Optum website.

Remember to include the required IRS supporting documentation with your submission. Optum will contact you directly for additional information, if necessary. Failure to provide documentation when requested may require repayment through payroll on an after-tax basis. Substantiate your claims by December 31, 2023, to avoid the repayment process*.

*The repayment process applies to the Healthcare FSAs only; it does not apply to the Dependent Day Care Account.

Carryover Reminders

Up to $610 of unused funds in a Health Care FSA are eligible for carry over from 2023 to 2024. The carry over process happens after April 15, 2024.

  • Unused funds greater than $610 will be forfeited.
  • Unused funds less than $50 will also be forfeited if you did not re-enroll for the 2024 plan year during Annual Benefits Enrollment, which ended on October 20, 2023.

The IRS does not allow carryover for the Dependent Day Care FSA.

For questions about your claims, eligible expenses, or your payment card, contact Optum at (833) 881-8158.

For general information, review the FSA Enrollment Handbook.

Source: Universities of Wisconsin Office of Human Resources