Pre-tax Commuter Transit accounts and Dependent Care FSAs are payroll-funded, meaning money is contributed directly from your paycheck, and you have to wait for the account balance to accumulate over time.
However, you can still submit a claim for an amount that's over your current available balance. Once approved, the current available balance will be reimbursed first, and then the remaining balance will be reimbursed in smaller increments as the account is funded.
Example
Let's say you contribute $100 with each biweekly paycheck, and your current account balance is $100. You submit a claim for a childcare expense that's $350.
Once the claim is approved, $100 is reimbursed first. The claim is now "in progress" with $250 remaining.
Two weeks later, your paycheck deposits $100 into the account. A new $100 reimbursement is sent out.
Two weeks after that, your paycheck deposits $100 again. A new reimbursement for $50 is sent out, completing the in progress claim!
If you have any questions about this, please reach out to our Member Experience Team at support@joinforma.com or send us a live chat message through your Forma mobile app!
For questions regarding pre-tax accounts (HSA, FSA, DCFSA, etc.) you can also reach us by phone at 844-902-2902 Monday through Friday, 8 AM EST - 8 PM EST. We're here to help!