For US employees WFR-ed, was outstanding balance in the health care FSA forfeited? Or was it added to severance? Or were you able to file claims against it after the day walked out the office?
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They took my VISA card long ago. I hate them for it. Makes it a pain to go buy things.
@PGtnAcZ-2cre You can spend the whole planned FSA account whether you have "accrued" or contributed the whole year. So if you have only contributed 10/12 months your can exhaust all 12/12 months of it. all yours under the rules
If you know you're going to be quickly laid off, and have FSA money accrued, go to fsastore.com and buy stuff. No use losing that money!
You might have to use your own credit card and have the account reimburse you. Last time I purchased from this site, the site didn't take my FSA card.
HPE/DXC have a get-out clause in their FSA rules that benefits them ? Surely not !
Why am I not surprised? Just another example of them penny-pinching at the expense of the employees. Heck, I just got a letter saying my pension account interest is now being calculated a different way...and not to my benefit...1/2% adds up when you have a couple hundred thousand pension accounts...
So glad I quit this train-wreck last year.
FSA did not continue with my COBRA, Under the rules I forfeited at midnight of my termination data. However I exhausted all but $5 on that last day by purchasing things I needed on fsastore.com. No doubt the bean counters saw this trend and started shrinking the time of notice to the time of termination.
Your FSA balance can be used for any healthcare expense incurred before your termination date. It cannot be used for anything incurred after your termination date, and the balance is non-refundable. However, FSA is typically subject to COBRA rules too - so if you continue to contribute under COBRA, you can continue to use the balance through the plan period.
On the flip side, if you planned to put in 2000, used 1800 in the first month and then got laid off, the company (typically) cannot come at you for the unfunded balance either.
Plenty of detail out on the interwebs on exactly how this all works.
That is up to $2600 of money we contributed out of our paycheck. It cant just go into DXC pockets if terminated? Normally it gets worked out in the healthcare claim settlements through 1st of next year. Under previous WFRs, you had time to work all this out from notice till final date. Now with 1 day notice in US, if layed off, how long did DXC allow you to continue to file claims for prior to final day healthcare expenses? Certainly these can still pull from FSA?
IRS Regulations prohibit refunds of FSA balances upon termination.
HSA is different, it's your money.
This was not my experience. They zeroed out my account almost immediately after my WFR.
Website address?
The HSA is entirely yours and is not affected by the DXC deboning. You should have received an HSA VISA card earlier this year. It is still valid. I have been using mine since May. Check your balance at the web address on rear of card. The account does not expire until you drain it.