As permitted by recent
guidance from the Internal Revenue Service (IRS), we are changing our
Healthcare FSA to allow you to roll over up to $500 in unused funds
remaining in your account at the end of the calendar year.
If you currently have a Healthcare
FSA, no action is needed to roll over up to $500 from 2013 to 2014.
Any balance up to $500 at the end of 2013 will automatically roll over and be
added to your 2014 Healthcare FSA account.
Any 2013 balance in excess of $500 will be
forfeited, so be sure to use your account balance above $500 for eligible
expenses between now and December 31, 2013.
If you have a 2013 Healthcare FSA balance
and you did not elect a Healthcare FSA for 2014, we will automatically
establish a 2014 Healthcare FSA for you, and your 2013 fund balance up to $500
will roll over to your 2014 account.
Please remember that you have until March 31,
2014 to request reimbursement from your Healthcare FSA for
eligible healthcare claims incurred in 2013. If you deplete the balance
of your 2013 account, no roll-over will be necessary.
Due to the introduction of the
roll-over provision, we are allowing employees to change their 2014 Healthcare
FSA elections or newly elect a 2014 Healthcare FSA at this time. If
you wish to change your 2014 election or newly elect a Healthcare FSA, please
send an email to the Columbia Benefits Service Center at firstname.lastname@example.org on
or before December 30, 2013.