Almost there! Spend down your Flexible Spending Accounts (FSA)
A few reminders to all employees who are enrolled in a Health Care, Dependent Care,
or Limited Purpose FSA:
- Funds must be used by June 30, 2025. Any remaining funds will not rollover to the next plan year and will not be refunded.
- All requested funds are available immediately on the Health Care and Limited Purpose FSA. This means if you elected a total contribution of $1,000 for this plan year, that full $1,000 is available immediately upon request - even if your payroll contributions have not met that amount yet. The exception to this is Dependent Care - these funds are only available as they are deposited into the account via payroll deduction.
- These accounts must be enrolled in each year. Coverage will automatically terminate for all FSAs for all enrolled employees on June 30, 2025.
- NEW REMINDER ADDED ON JUNE 30, 2025 - There is a run out period until September 30, 2025 (90 days after the end of the plan year) to submit expenses against your FSA account(s) that were incurred during the plan year from July 1, 2024 to June 30, 2025.
Review the plans and their differences on our FSA webpage. Email ua-benefits@alaska.edu or call (907) 450-8242 with questions.
Unsure how to spend your funds? Review and contact TouchCare!
HSA Eligibility - ADDED JUNE 30, 2025
Moving to a Health Savings Account on July 1? You must have a $0 balance in your Health
Care FSA on July 1, 2025. You cannot utilize the run out period through September
30 as all money must be spent by July 1, 2025. If there is $1 remaining in your FSA
on July 1, 2025, you forfeit your eligibility rights to the HSA until January 1, 2026.
This means you cannot contribute to the HSA account until the new calendar year. If
you have funds remaining in your FSA that you are not able to spend, you need to submit
a new HSA form to stop your contributions until January 2026.
Emailed via benefits newsletter on 11/26/2024, 12/3/2024, 3/4/2025, 3/18/2025, 4/1/2025,
4/8/2025, 4/15/2025, 4/22/2025, 6/30/2025.
Contact Benefits: (907) 450-8242 | ua-benefits@alaska.edu | schedule one-on-one time