What is a run-out period?
Account funds typically expire after a defined period of time as indicated by your employer.
Your employer might choose to offer a run-out period, an additional amount of time for you to file claims for expenses incurred in a previous period, even after the period ends.
Not all accounts have a run-out, check your company's program policy for more information.
Let’s say your Forma account resets quarterly and your employer offers a 30-day run-out period. On July 1, your $50 account balance from the previous quarter expired.
On July 20 (or any day prior to July 30), you file a claim for a $40 expense incurred during the previous quarter. If the claim is approved it will use last quarter’s balance instead of the new balance from this quarter.
How do I file a claim during a run-out period?
It’s the same process as filing a claim during the benefit period. Log in to your Forma account and either go to the Claims page or go directly to your employer-sponsored benefit and select “New claim”.
As long as you’re filing the claim during the run-out period, Forma will automatically use the balance from the previous period.