As we have previously mentioned in discussions regarding your flexible spending account, or FSA, the pre-tax money you contribute to the fund does not carry over to the next plan year like an HSA. However, employers are allowed to extend a grace period until March 15th after the end of a plan year in which FSA account users can continue to acquire eligible medical expenses (check with your FSA provider for a complete list) to be paid for using the money contributed to their FSA account. As a note, this differs from the run-out period which typically allows 90 days after the end of the plan year for claims to be filed.

Check with your employer to confirm the grace period and eligible expenses before your remaining funds are forfeited.

Source: Ivy, Jenny. “‘Use it or lose it’ deadline approaches for many FSAs.” Benefitspro. Benefitspro, 28 February 2012. Web. 2 March 2012.