The State System offers a carryover for the Health Care FSA, which permits participants to rollover unused Health Care FSA funds into the following calendar year. Any remaining balances exceeding the carryover limit will be forfeited.
- The current carryover from 2023 into 2024 is $570
- The new carryover from 2024 into 2025 is $610
The Day Care FSA does not have a carryover and must be used for day care expenses
incurred DURING the plan year or the money is forfeited.
*Any carryover amount less than $5 will not carry over into the next calendar year*
Accessing Carryover Funds
Carryover amounts will be available at the beginning of April 2024.
Run-out Period
For both the Health Care FSA and Day Care FSA, you can submit 2023 expenses during the run-out period from January 1, 2024 - March 31, 2024.
Health Care FSA
After March 31, up to $570 left over in your 2023 health care FSA will move over to your 2024 health care FSA. Any 2023 health care FSA balance over $570 will be forfeited.
Day Care FSA
After March 31, any 2023 DCFSA balance will be forfeited.
Submitting Expenses During the Run-Out
You may only be reimbursed for 2024 expenses during the run-out period. If you do
not have a current plan year election, you will need to wait until after carryover
has occurred (April) to submit for reimbursement of 2023 year expenses. You do not
need to elect a current year Health Care FSA for your money to carryover, however
you will not be able to access your funds until April when the carryover has occurred.
Using your Spending Account Card
If you elected a 2024 Health Care FSA, you can use your spending card beginning January 1, 2024. If you did not elect a 2024 Health Care FSA, but have a carryover, you will be provided with a FSA spending card in April 2024.