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Canceling the Flexible Spending Account (FSA)


Question: I want to cancel my Flexible Spending Account. How do I cancel it?

Answer: Certain qualified family status changes may provide for an opportunity in which you may start or stop participating or change the amount of your Dependent Care FSA or Health Care FSA contribution during the plan year. Changes in status are identified by Section 125 of the Internal Revenue Code. IRS rules require that changes to participation and/or to contributions amounts during the plan year must be made on account of and consistent with an eligible change in status. An election change is consistent if that change is on account of and corresponds with a change in status that affects eligibility for coverage, with some exceptions. You must call the SSC Contact Center within 30 days of the event and be prepared to provide documentation of the change upon request. For more information about canceling your FSA coverage please see Changing your FSA Election.
Article #108

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Posted: 13 Jun, 2008
Every effort has been made to ensure the accuracy of the information in this site. However, if any provision on these documents is unclear or ambiguous, University Human Resources reserves the right to interpret the document and resolve the problem. If any inconsistency exists between this site and any written plans or contracts, the actual provisions of the latter will govern. The University in its sole discretion may modify, amend, or terminate the contents of these documents with respect to any eligible individual - including active employees, retirees, and their dependents.