Health Care Flexible Spending (HCFSA): If I elect an FSA for 2025 and still have money in my 2024 HCFSA, will TASC use my 2024 FSA funds before they use my 2025 HCFSA funds?
Yes, only if a 2024 claim is submitted manually, and the date of service falls within that year, funds will pull from the 2024 FSA. If the participant does not have any outstanding expenses for the previous plan year, they will have access to both plan year funds during the runout period with the TASC card. If you use the TASC debit card, the card will pull from the current plan year first, however, if the participant did not elect into the new plan year or have already utilized the plan funds, the card will draw from the previous plan year balance up to the carryover limit. Once the runout period ends and the reconciliation period is complete (mid-April) any remaining unused carryover funds will be applied to the current plan year’s balance.
Found in: FSA | HSA | HRA | View All FAQs
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