SouthFlex changes carryover, extends grace periods
The University of South Alabama has adopted several changes to the program to allow employees to use their balances from 2020.
In an effort to extend benefits for employees enrolled in a SouthFlex flexible spending account, the University of South Alabama has adopted several changes to the program to allow employees to use their balances from 2020.
The Consolidated Appropriations Act 2021, signed into law on Dec. 27, 2020, allows employers to extend benefits for flexible spending accounts (FSAs), health and dependent care, in 2021 and 2022. SouthFlex currently provides a grace period for health FSAs through March 15 and a filing deadline for health and dependent care accounts of April 15 of the following year.
As a result of this act, the university has adopted the following changes to SouthFlex:
- Unlimited carryover allows unlimited carryover of all unused Healthcare FSAs and Dependent Care FSA funds for the 2020 and 2021 plan years.
- Extended grace periods allows the grace period to be extended to 12 months for Health and Dependent Care FSAs with plan years ending in 2020 or 2021.
- Dependent care FSA age limit increase for participants enrolled in dependent care accounts, as of Jan. 31, 2020, who have unused balances, allows expenses for dependent children up to age 14.
For more information, your account balance or other questions, please contact Health Equity (BCBS) at 1-877-288-0719 or Discovery Benefits (USA VIVA) at 1-866-451-3399.
