For my 2019 benefits from my company I enrolled for $1000 in an FSA account. So as of Jan 1 I have $1000 available to spend, but in late Feb. I changed jobs and I have one more check being issued to me next week.
So far I have only contributed about $150/$1000 but when talking to the rep from company handling my FSA since the account is prefunded for the year I still am able to spend $1000 as long as I do so before the March 31 cutoff date for my accounts.
So my question is kind of multi-part. I have several questions on how this works:
Will they take the remaining amount needed to get to $1000 from my final check? If not, and if I were to spend the full $1000, where will that extra money come from or who/what entity will have to eat the cost?
Will I have to reimburse that money somehow or does some banking entity that prefunded my account just have to eat the cost or did my company prefund my account and they will eat the cost no matter if I spend it or not?
If I do spend over my contribution amount, how does that work with my taxes? That seems like it could get very confusing when I just spend 800 tax free dollars that I did not pay.