What LPFSA plan year end date should I choose?
The start date you choose can also determine when the plan renews:
- Choose a Full Plan Year End Date to have the LPFSA renew one year from the start date. If that date is the start of your insurance plans, workers will go through Open Enrollment for both LPFSA and insurance around the same time.
- Choose a Calendar Plan Year End Date to have the LPFSA line up with the calendar year.
If you choose the Calendar Plan Year option, your LPFSA plan year will be different from your contract's term, and you'll be charged the annual fee twice: once at the start of the Calendar Plan Year, and again when the plan renews in January.
Thank you for the feedback!