Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
FSA Account Balance?
Im not familiar with how this works, but anyway my annual election is only 10$ per paycheck, so far my total contribution is 40$ since I just got insurance from my employer. So my question is, on the webpage it says my TOTAL BALANCE is 120$ even tho my total contribution is 40$ so far. So how much can I use my FSA 40$ total contribution so far or the 120$ balance? Sorry Im not really how these stuff works. Thank you
1 Answer
- A HunchLv 75 years ago
If it's an FSA healthcare plan, you can use your total allotment ($120) at any time.
You don't need to wait until you have contributed that much money.
If you leave the employer, you don't need to pay it back.
However, if there is money left over at the year end deadline for receipt submission, you forfeit this money.
If it's a dependent care account, you can only use what you have contributed.
