Year-End Health Account Deadlines

Flexible Spending Accounts (FSAs):

Contribution Deadline:

Typically, you must use the funds in your FSA by December 31 of the plan year. However, some employers offer options to extend this period.

These options can include Grace Periods and Carryover.

Claim Submission Deadline:

Even with a grace period, there’s typically a deadline to submit claims for reimbursement. This is often by March 31 of the following year, but it varies by plan.

Health Savings Accounts (HSAs):

Contribution Deadline:

You can contribute to your HSA until the tax filing deadline for the year, usually April 15 of the following year.

Contribution Limits for 2024:

Individual Coverage: $4,150

Family Coverage: $8,300

An additional $1,000 catch-up contribution is allowed for individuals aged 55 or older.

Dependent Care FSAs (DCFSAs):

Contribution Deadline:

Similar to FSAs, DCFSAs often have a use-it-or-lose-it rule by December 31. However, some employers offer a grace period of up to 2.5 months (until March 15) to incur eligible expenses.

Contribution Limits for 2024:

The maximum annual contribution is $5,000 per household. If married and filing separately, the limit is $2,500 per person.