I'm hoping someone can help. I know the rules say you cannot have an FSA if you are covered by an HSA. But, what happens if your insurance changes mid-year?
We had an HSA for my DH and our 2 children. I was covered by employer's plan and declined to participate in the FSA offered.
NOW, entire family is on plan through my employer and we have cancelled the plan that was tied to the HSA. The HSA administrator will be calculating our maximum contribution based on 6 months in the plan and refunding us the overpayment.
My question is...Can I now join the FSA plan for the second half of the year. Or must I wait until 2009? If I must wait, what about using the $250 that my employer contributes to the FSA plan. Can I at least use that?
Thank you!
We had an HSA for my DH and our 2 children. I was covered by employer's plan and declined to participate in the FSA offered.
NOW, entire family is on plan through my employer and we have cancelled the plan that was tied to the HSA. The HSA administrator will be calculating our maximum contribution based on 6 months in the plan and refunding us the overpayment.
My question is...Can I now join the FSA plan for the second half of the year. Or must I wait until 2009? If I must wait, what about using the $250 that my employer contributes to the FSA plan. Can I at least use that?
Thank you!