JamesG1
Expert Alumni

Get your taxes done using TurboTax

You are not likely to have access to 2022 flexible spending benefits which were unused in 2022.

 

Contact your employer's benefits department to see whether there are provisions within the company flexible spending account rules to allow employees access to unused 2023 funds

 

This TurboTax Help states:

 

On the other hand, you don't want to think of the flexible spending account (FSA) as a savings account. It is a medical benefit intended to finance your annual out-of-pocket medical expenses. You may lose whatever amount is left unspent in the account at the end of the year or early in the following year.

 

The use-it-or-lose-it rule is not carved in stone, however. The Internal Revenue Service (IRS) offers employers the option to allow employees until March 15 of the following year to use FSA funds from the previous year.

 

The IRS also permits employers to let their employees rollover up to $500 in unspent FSA money into the following year. These are not rules, but options available to employers, so check your company's policies.

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