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Can the entire amount of a pre-funded FSA be used under Cobra?
I terminated employment with about $900 available in my pre-funded FSA. I had spent almost exactly what I had put into the account thus far, the $900 was the remainer I had not actually paid in. So, if my FSA was prefunded, will the entire amount be available to me after I terminate employment if I continue FSA coverage through Cobra?
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Inappropriate?When you select COBRA coverage, the amount will have the contribution amount for the FSA included. Therefore removing the benefit termination date in the system and applying the contributions to the pre-funded amount. That would make the full balance remaining available to you.
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Inappropriate?If you are eligible for and offered COBRA by your employer and you enroll in COBRA coverage for your FSA then the full remaining FSA balance will be available throughout the coverage period (even though you had not already funded that portion).
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