Defining a Runout period
A period of time, typically 30-90 days,* following the end of your FSA plan during which you can submit claims for expenses incurred in your previous FSA plan year.
*The duration, start date, and availability of a Run-Out period is determined by your employer and may vary.
How to access FSA funds during Runout
If Lively was the FSA provider for your previous FSA plan year, your FSA funds can only be accessed by submitting a reimbursement claim via your Lively online account. Your Lively FSA debit card should only be used for expenses incurred in your current plan year.
If you did not have an FSA with Lively for your previous plan year, the only way to access runout funds is by filing claims with your previous provider.
Eligible claims during a Runout period
The expenses in your claims must have a Date of Service from the previous plan year in order to use last year's funds. This means your expense must have been incurred the prior year to qualify. Claims that do not meet this criteria will be rejected.
Understanding “Date of Service”
The date of the service is the day that your expense was incurred, not the date you paid for the expense or when you were charged for the expense.
EXAMPLE: If you went to the dentist on October 10th, but paid the bill on November 5th, your date of service is October 10th.
Remember these guidelines during a Runout period to avoid rejected claims and maximize the funds in your Lively benefits. Reach out to support@livelyme.com if you have questions.
Updated: