As you head into fall open enrollment, it’s also a good time to think about year-end benefits planning. Several benefits-related deadlines and decisions cluster around December 31 — and missing them can cost employees real money.
FSA Deadline: Use It or Lose It
Employees with Flexible Spending Accounts (FSAs) need to spend their balances before the end of the plan year (or a short grace period, if their employer offers one). Remind employees to review their FSA balance in October and plan for any remaining healthcare, dental, or vision expenses.
Common FSA eligible expenses to use up a balance: eyeglasses, contacts, dental work, physical therapy, chiropractic care, over-the-counter medications, first aid supplies, and more.
HSA Contributions: Max Out Before April 15
Unlike FSAs, HSA contributions can be made up until the tax filing deadline (April 15 of the following year) for the prior tax year. But payroll-based HSA contributions stop on December 31. Employees who want to max out their HSA for 2026 need to plan their contribution rate accordingly.
Dependent Care FSA: Same Deadline
Dependent Care FSAs (for child or elder care expenses) also have a use-it-or-lose-it deadline. Remind employees to submit reimbursements for eligible expenses incurred through December 31 before the claim deadline.
Annual Preventive Care
Preventive care (annual physicals, screenings, vaccines) is covered at 100% by ACA-compliant plans. Employees who haven’t used their preventive care benefit yet this year should schedule appointments before year-end.
Review Beneficiary Designations
Open enrollment is a good time to encourage employees to review beneficiary designations on life insurance, retirement accounts, and any other benefit with a named beneficiary. Life changes mean these often go out of date.
Need help communicating year-end reminders to your employees? Garden State Benefits can help with employee communications as part of your open enrollment support.