or Connect
Mothering › Mothering Forums › Natural Living › The Mindful Home › Frugality & Finances › Flex spending and job change
New Posts  All Forums:Forum Nav:

Flex spending and job change

post #1 of 5
Thread Starter 

We accidentally put too much in our Flex Spending Account which wouldn't be a problem because I guess we can use it on expenses through March 2012, but now it looks like DH will be getting a new job.  Do we just lose that money if he takes a new position, or does the money in our Flex Spending Account come with us?  TIA! 

post #2 of 5

You should be able to continue spending it (at least we were able to with DP changing jobs).

 

That said, they will no longer be withdrawing so you might not end up with an overage after all.

post #3 of 5

According to this page, it is up to the invidual employer what happens to the money:

 

http://www.associatedcontent.com/article/504529/dont_lose_out_on_contributions_to_your.html

 

This also says that you only get access to the money while you are still employed (unless you go on Cobra):

 

http://www.kiplinger.com/columns/ask/archive/2009/q0402.htm

 

Definately contact your DH's HR department asap.

post #4 of 5
Thread Starter 
Quote:
Originally Posted by TiredX2 View Post

According to this page, it is up to the invidual employer what happens to the money:

 

http://www.associatedcontent.com/article/504529/dont_lose_out_on_contributions_to_your.html

 

This also says that you only get access to the money while you are still employed (unless you go on Cobra):

 

http://www.kiplinger.com/columns/ask/archive/2009/q0402.htm

 

Definately contact your DH's HR department asap.


Thank you.  Unfortunately, DH cannot talk to HR about it because he doesn't want them to know he's looking for other jobs.  Once he has another offer, we'll obviously tell them, but I was hoping to know before hand.  I guess in the end, he'll take a different job regardless, but I am hoping we don't lose all of it. 
 

 

post #5 of 5

Usually employees lose their flex spending accounts when they change jobs. Sometimes you can keep your exsisting balance if you purchase COBRA. I would recommend trying to use the remainder of your account before he leaves the company just incase. If you have a negative balance at the time of seperation, the company cannot ask you for repayment.   

New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Frugality & Finances
Mothering › Mothering Forums › Natural Living › The Mindful Home › Frugality & Finances › Flex spending and job change