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For Plans that Renew January 1, 2024

A breakdown of how January 1 plan renewals affect HSA balances — including how unused credits move to Carryover, Reserve, and Grace Period funds.

myHSA
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January 1 annual plan renewals will occur with the following balance adjustments:

1.

Employees with Credit Carryover:

- Unused 2023 credits move to Carryover balance.

- Unused 2022 credits move to Reserve balance, available only for the Grace Period.

For claims: — - 2024 claims use Carryover first, then Current funds.

- 2023 outstanding claims use Reserve Funds first, then Carryover funds during the Grace Period.

2.

Employees without Credit Carryover :

- Unused 2023 credits move to the employee's Reserve balance.

For claims: — - 2023 outstanding claims use Reserve balance during the Grace Period.

3.

Employees on a myFlexplan :

- Allocate new balance received on January 1.

- Prior year funds remain allocated in the same accounts. Employees can review their existing account balance before making current year decisions.

Important Dates for Plan Admins and Employees :

Last day to allocate: January 30, 11:59pm (PST)

Grace period end date: March 31, 11:59pm (PST)

Download our complete myFlexplan Allocation Guide below myFlex-Allocation-guide .pdf

Download PDF • 507KB

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