If you are not enrolled in the state's direct deposit program, your reimbursement payments will be mailed to you. Semi-annual account statements will help you keep track of your account balance. You will have until March 31 of the next year to submit claims for expenses incurred before the end of the plan year and during your period of coverage. Your maximum amount of reimbursement under the Medical Expense Reimbursement Account is available at all times during your period of coverage, less any prior reimbursement made during that period. If funds in the account are not all used, they are forfeited.
Careful planning can reduce or eliminate the risk of forfeiture.
There are very few situations where this would prove advantageous for you. Contact the Flexible Benefits Office for information regarding this option. If you decide to continue your account, the remaining funding required can be paid in a lump sum or in monthly payments. Your time frame for incurring eligible expenses would then be extended to December 31. If you decide to terminate your account when you leave state service, you will have until March 31 of the next year to make claims against your account for expenses incurred before your termination.