Flexible Spending Accounts

When Coverage Ends 

This section describes the circumstances under which your Flexible Spending Account Plan coverage will be terminated. 

Your Flexible Spending Account Plan coverage will end on the earliest of the following dates: 

  • the date that your employment with the Company ends for any reason;
  • the date that you cease to be actively at work (see Eligibility and Plan Participation);
  • the date that you become part of a class of employees who are not eligible to participate in the plan;
  • unless you are on an approved leave of absence, the date that you stop making payroll deduction deposits to your account(s); or
  • the date on which the Company terminates the plan. 

Dependent Coverage
Dependent Care Flexible Spending Account coverage for a child or other covered person will end as of the date that that child or person no longer meets the definition of an “eligible dependent” (see Eligibility and Plan Participation for a definition). 

If your participation ends due to termination of employment, you may submit Flexible Spending Account claims under the following rules: 

Dependent Care Claims: You may continue to submit claims for eligible dependent care expenses incurred during the calendar year in which your termination occurs. (This applies only to eligible expenses incurred before your termination date.) 

Health Care Claims: Unless you elect COBRA continuation coverage (see below), you may continue to submit claims for eligible health care expenses that were incurred before your date of termination. You may not submit claims for health care expenses incurred after your date of termination. 

All Dependent Care FSAclaims must be submitted by March 31 of the year following the year in which your participation ends.

All Health Care FSA claims must be submitted by June 30 of the year following the year in which your participation ends.

If you terminate employment for any reason other than gross misconduct,you may continue to make after-tax contributions to your Health Care Flexible Spending Account under the terms of COBRA continuation coverage. See the Administrative Information section of this SPD for additional information concerning COBRA continuation. 

You should carefully consider whether your participation in the Health Care Flexible Care Spending Account following your termination of employment would provide any financial advantages to you. 

The Administrative Information section of your Summary Plan Description (SPD) is incorporated into this summary by reference. The Administrative Information section contains additional important information about your Flexible Spending Account Plan benefits, including your rights as a plan participant under the Employee Retirement Income Security Act of 1974 (ERISA).