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For Plans that Renew January 1, 2024

Updated: Jan 16

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: April 1, 11:59pm (PST)


Download our complete myFlexplan Allocation Guide below


myFlex-Allocation-guide
.pdf
Download PDF • 507KB

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