Be sure to use your 2012 flex funds by Dec. 31

If you haven’t used all the money you set aside in your 2012 Flexible Spending Accounts, now is a good time to see if there is a way you can use up any remaining funds before Dec. 31, 2012.

Flexible Spending Accounts are “use it or lose it” accounts; any unused funds are forfeited. Flexible spending account funds use tax-free dollars to pay for eligible health care expenses such as prescriptions, co-pays and eyeglasses. 

WageWorks now handling claim requests

All 2012 Flex Account claims that are received before Dec. 14, 2012 will be processed by OptumHealth Financial Services. Claims received after Dec. 14 will be processed by WageWorks, the City’s new administrator for Minneflex flexible spending accounts, HRA/ VEBA and the pre-tax transportation benefit.

Reimbursement requests not due until April 15

Although you have to spend the money by Dec. 31, you do not have to submit your request for reimbursement on that date. You have until April 15, 2013, to submit claims for reimbursement of 2012 eligible expenses.

Published Dec 19, 2012