How do companies roll over a previous FSA to Zenefits?
Here's how to roll over an existing company FSA plan from another provider to Zenefits. The new FSA plan will always begin on the 1st of the month. Some companies may wish to implement a blackout period from the 15th to the end of the month with their previous providers to avoid possible pending claims when we collect final balances at the end of the month. First, complete the FSA enrollment in Zenefits.
Request the following information from the previous provider:
- Original plan documents from the previous provider. These documents should specifically state the plan's start date and end date. Zenefits will use these documents to make sure the new FSA is set up just like the old plan.
- By the 15th of the month before the new FSA's start date, an enrollee report containing:
- A list of enrolled employees.
- Remaining balance to be rolled over into Zenefits
Contact Zenefits Support and provide the plan documents and enrollee report.
Things to keep in mind about FSA rollovers
Zenefits is not able to cancel the company's previous FSA plan. The admin must contact their previous provider and cancel the plan.
- The new FSA plan will always begin on the 1st of the month.
- Companies should implement a blackout period beginning from the 15th of the month until their new Zenefits FSA begins. This blackout will ensure that no outstanding claims from the previous provider will affect their rollover balance.
- Employee account balances as of the last day of the final month with the old provider will be rolled over to Zenefits
- Claims that occured previous to the effective date of the new plan must be submitted with the previous provider.
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