Read about how to use your Health FSA or DCAP funds when you retire – use it before you lose it
- Health FSA and DCAP contributions end with your last paycheck
- If you have funds remaining in your Health FSA, you can submit claims for expenses incurred between January 1 of the current year and your termination date. You have until May 31 of the following year to submit them
- For DCAP, you can submit claims for expenses incurred between January 1 and December 31 of the current year. You have until May 31 of the following year to submit them
- Any money that remains in your Health FSA or DCAP accounts after May 31 of the following calendar year is forfeited, as required by IRS regulation
- Health FSA only: You may be eligible to elect the Health FSA through COBRA continuation. Since there are no tax savings on contributions made to the Health FSA through COBRA (contributions are made on an after-tax basis), you are encouraged to consult with your tax advisor to decide if electing Health FSA COBRA is beneficial
- To submit claims for expenses (or get questions answered) for Health FSA, Limited Use Health FSA, and DCAP visit the My Health Benefits website or call the Intel Health Benefits Center at (877) GoMyBen (466-9236)