What happens to my FSA, LPFSA, DCFSA, Transit, or Parking account?
Once your employment ends, if there's money left in an FSA, LPFSA, DCFSA, Transit, or Parking account, there's a run-out period set by your employer — extra time where you can still submit claims for expenses incurred prior to your termination date.
Even if you have a run-out period, you can't use any of your pre-tax money for new expenses. During that period you'll continue to have access to your Forma account so you can file claims, but your Forma Card will be deactivated on your termination date.
You may be able to elect COBRA to continue your plan coverage through the end of the plan year. If you don't elect COBRA, any money left in your account stays with your employer. Please check with your Human Resources department to see if your plan is subject to COBRA.
What about an HSA?
HSAs are different from the other kinds of pre-tax accounts because you own your HSA, not your employer. Even when you leave the company, you keep ownership and access to that money.
You'll keep using Forma to manage your HSA even after your termination date, and we'll send you an email with more information, as well as a new Forma Card. You can also transfer your HSA to another custodian.
Make sure you have a personal email in your Forma account so we can contact you after termination.
You can reach out to firstname.lastname@example.org for any questions you may have.