FSA / HRA / HSA
FSA Reimbursement for Non-Covered Spouse
Health FSA funds may generally be used to reimburse eligible medical expenses for a spouse or qualifying dependents even if they are not enrolled in the employer's health plan.
Question of the Week
Question of the Week - Parking Reimbursement Plan and Termination of Employment
Q.- An employee resigned and still has a balance in her parking reimbursement account. Can she continue to use the account? What if she has a claim she incurred before terminating
Q.- An employee resigned and still has a balance in her parking reimbursement account. Can she continue to use the account? What if she has a claim she incurred before terminating but didn’t submit it yet?
A.- The IRS prohibits terminated employees from participating in a parking reimbursement plan after termination of employment and all unused funds must be forfeited. However, a plan can include a “runout” period to allow submission of parking expense claims incurred on or before the termination date.
Benefit Allocation Systems (BAS) provides online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 integrates with major insurance carriers for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and others), and with leading payroll platforms for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and others).
This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
Topics
COBRA
COBRA Offering to Retirees
When a covered employee becomes entitled to Medicare before retiring, a covered spouse may receive up to 36 months of COBRA continuation from the date of Medicare entitlement.
COBRA
COBRA Offering to Retirees
When a covered employee becomes entitled to Medicare before retirement, the spouse may be eligible for up to 36 months of COBRA continuation coverage.