Note that Sandia will follow federal and IRS guidelines if deadlines are extended due to the COVID-19 pandemic. However, we do not expect that a mid-year FSA enrollment period will be offered during 2021 due to COVID-19.
If you are not enrolled in a Sandia medical plan, you can contribute to the healthcare FSA! Your account is administered by PayFlex.
Your total contribution election is available on January 1, and you can use your FSA balance as soon as you incur an eligible expense.
Your account comes with a debit card, which makes it easy to pay for eligible services.
Be sure to keep your receipts as you may be required to substantiate your claims.
With the FSA, “Carryover Provision” applies
You’ll be able to carry up to $550 in unused FSA funds into the next calendar year, and use that money all year. You’ll forfeit any unused balance above $550 on Jan. 1.
You can choose to contribute the IRS maximum (currently $2,750 per year), even if you’re carrying over money from the current year. And your full FSA election for the upcoming year—including any amount you carry over from the current year—will be available on Jan. 1.