![]() ![]() Unfortunately, you cannot transfer funds from an FSA to an HSA.Ĭommon HSA & FSA-Eligible Qualified Medical Expenses Of course, with an HSA, there are no urgent deadlines to use your balance, so spend as the need arises. It’s worth noting that all of the FSA-eligible qualified medical expenses listed below are also HSA-eligible. Note that you can use FSA funds on yourself, your spouse, and any declared dependents. With the above information, you will know how much you have left to spend, how much you need to spend, and when you need to spend it by. ![]() It’s not uncommon for the FSA spend deadline to be the end of the calendar year, however. Your employer’s FSA spending deadline: the IRS allows up to a 2 month +15 day grace period where any unused funds contributed in a given year can be used in the first 2 months and 15 days of the following year.With a 2022 maximum FSA contribution of $3,050, FSA plan participants can carry over up to $610 from 2022 to 2023 (20% of $3,050), if their employer’s plan allows it. Your employer’s FSA carryover policy: your employer’s plan may vary, but the IRS’s FSA carryover rule allows employer plan participants to carry over up to 20% of the maximum annual FSA contribution (inflation adjusted each year) of their unused FSA balances remaining at the end of a plan year to the next year. ![]()
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