Flexible Spending Account (FSA)
EFFECTIVE JANUARY 1, 2020, NEPHRON PHARMACEUTICALS CORPORATION HAS TERMINATED THE FSA PROGRAM FOR THEIR EMPLOYEES. EMPLOYEES WILL HAVE A GRACE RUNOUT PERIOD TO FILE 2019 CLAIMS FOR REIMBURSEMENT THROUGH MARCH 31, 2020.
FSA GRACE RUNOUT PERIOD DEFINED
Since the FSA program was terminated January 1, 2020, there is one date in 2020 you need to be aware of — March 31! This is the last date you can spend your 2019 FSA funds.
The grace runout period ends on March 31, 2020.
The grace runout period is the time you can submit receipts, claims and invoices for services received in 2019 in order to get your remaining FSA funds reimbursed.
For example, you have $300.00 left in your FSA in 2019 and are waiting on invoices. Since your plan offers the grace runout period, then you have until March 31, 2020 to submit the receipts, claims or invoices for the $300.00 or else you risk losing the money.
- You work for Nephron Pharmaceuticals Corporation. The FSA program ended on December 31, 2019. The group has elected a grace runout period for their employees.
- You are waiting to receive invoices in the amount of $300.00 from a provider for services you received in July of 2019.
- You have a balance of $300.00 remaining in your FSA account on December 31, 2019.
- Because Nephron Pharmaceuticals Corporation elected a grace runout period, you will have until March 31, 2020 in order to submit those invoices and be reimbursed.
- If the invoices you submit only equal $280.00 and you do not have any more 2019 invoices you can submit prior to March 31, 2020, then you would lose the remaining $20.00.
If you have any questions regarding your FSA account, contact:
AccrueHealth Customer Service: 844-643-3099 or
P.O. Box 100237
Columbia, SC 29202
Medical FSA Claim Form
Dependent Care FSA Claim Form
Eligible-Ineligible FSA Expenses