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