Due to strict IRS requirements, any balance remaining in either reimbursement account at the end of the calendar year will be forfeited. You must enroll no later than 30 days from your date of hire if you wish to participate for the remainder of the current calendar year. You must re-enroll each year to continue participation in the reimbursement accounts. There is an annual open enrollment period each fall when you can enroll for coverage in the following calendar year. For newly-hired employees coverage is effective on the paydate of the check that the first ERA deduction is taken from.
Coverage remains in effect through the calendar year unless eligibility ends sooner.
If employees enroll during the fall Open Enrollment period, coverage will be effective on January 1st of the following calendar year. One must sign up each year during Open Enrollment to participate in the ERA program the following calendar year. If you miss your initial enrollment period or the annual open enrollment period, you will not be able to enroll in either reimbursement account until the next fall open enrollment period unless you have an approved Family Status change. An approved Family Status change may allow you to start or change a reimbursement account. The state of Wisconsin has hired the Fringe Benefits Management Company to administer the ERA program.