Princeton University is enacting temporary provisions of the Consolidated Appropriations Act (CAA) related to the Healthcare Flexible Spending Accounts (HFSA) and Dependent Care Flexible Spending Accounts (DFSA). This legislation will allow for the following changes:
Rollover of Unused Balances
Standard rollover provisions will be reinstated for balances remaining at the end of 2022. For the HFSA, balances of $50 or more, up to a maximum of $570, are rolled over automatically from 2022 into 2023. No rollovers are permitted under the DFSA.
Reimbursement Deadline Extension
The deadline to file for reimbursement for 2021 HFSA expenses has been extended. The deadline does not begin until 60 days after the official end date of the National Emergency — this date is not yet determined. Once the National Emergency end date is announced, PayFlex will provide the new claim submission deadline date for 2021 HFSA expenses. Eligible expenses for 2021 must have been incurred from January 1, 2021, through December 31, 2021 — there is no extension of the spending deadline. This deadline provides additional time to submit for unreimbursed 2021 expenses.
The deadline to submit 2021 DFSA expenses remains the same; DFSA claims for 2021 must have been submitted by March 31, 2022.
For any additional questions or information, contact Payflex at (800) 284-4885. The Benefits Team is also available at (609) 258-3302 or [email protected].