What is a Run-Out 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 2021 FSA Plan funds during Run-Out
If Lively was the FSA provider for your previous FSA plan, 2021 FSA funds can only be accessed by submitting a claim via the Lively platform. If you use your FSA debit card to pay for an expense incurred in 2021, the claim will eventually be reviewed and rejected.
If you did not have an FSA with Lively for your previous plan year, the only way to access run-out funds is by filing claims with your previous provider.
Your FSA debit card should only be used for expenses incurred in your current plan year.
Eligible claims during a Run-Out period
The expenses in your claims must have a Date of Service in 2021 in order to use your 2021 FSA Plan funds. This means your expense must have been incurred in 2021 to qualify. Claims with a date of service in 2022 will be rejected.
Understanding “Date of Service”
The date of the service is the day that your expense was incurred, not the date you were charged for or paid for the expense. For 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 run-out period to avoid rejected claims and maximize your FSA benefits. Reach out to email@example.com if you have questions.Updated: