Changing j*b, medical 125 problem
I'm in the process of switching to a new job, and have run into a problem with my 125 account at my old employer. I've got $1,750 in the account, and haven't made any claims against it this year (yet). The fund administrators are basically saying that I must forfeit the funds because I haven't filed any claims. They're further saying that I won't be able to file claims for those funds in the future because I'll no longer be an employee. That can't be right, can it? Do I have any recourse here?
I'd used a 125 for dependent care previously, which worked well because those expenses were greater than my contributions to the flex account. In the case of the medical, it's not looking like such a good deal.
I can't complain, but sometimes I still do.
- Joe Walsh