When it comes to navigating the world of employee benefits, there’s a lot to take in, especially if you’re a first timer. Among the suite of benefits you’re likely to be offered, voluntary benefits are often misunderstood. What are Some Examples of Voluntary Benefits? Voluntary benefits include a variety of options, all designed to...
Extending March 31 Flex Claims Filing Deadline?
Some employers have asked whether they can extend the deadline for employees to file flexible spending account claims. Most plans required employees to file claims within three months of the end of the plan year. For calendar year plans, this deadline would be March 31.
The deadline for filing claims (but not the deadline for incurring expenses) can be extended by plan amendment. However, an amendment request needs to be made to Advantage Administrators in writing (email at email@example.com or fax at 319-352-4018 or 319-352-2610) prior to March 31st for calendar year plans and must state how many additional days or months the deadline is to be extended.
We will get the amendments done as quickly as we can on a first in/first out basis. Our fee for preparing this amendment will be $75.00 if the request is submitted prior to March 31.
Keep in mind that this amendment will not extend the time for employees to incur expenses; it will only extend the deadline for submitting a claim.
Advantage Administrators is ready during this COVID-19 crisis to help you stand up any
employee and/or employer funded programs to cover your employees’ unexpected out-of-pocket expenses due to COVID-19, such as:
- a temporary Dependent Care Assistance Program
- a COVID-19 only HRA to preserve employee HSA dollars
- pre-funding options for your employees’ Health Savings Accounts.
Let us know how we can assist you and your employees during these trying times.