The Ameriflex FSA Guarantee is a complimentary feature offered to all Ameriflex FSA customers.
How it Works
If the total annual FSA claims exceed the total annual employee contributions, the employer can file a claim with Ameriflex to recoup the amount of the net aggregate plan-year loss. The guarantee is afforded on an aggregate basis, not per employee basis, after the end of the claims run-out period for the FSA plan.
Let’s say employees have contributed a combined $10,000 to the FSA plan, but they have already used $15,000 since FSAs are pre-funded at the beginning of the plan year. With the FSA Guarantee, the employer would be able to make a claim with Ameriflex to collect the $5,000 loss.
This guarantee only applies to the FSA plan (including the DCA and CRA), and not any other plans that Ameriflex administers.
In order to monitor your employees' contributions and usage of the FSA, log into your Ameriflex employer account. You can view instructions here.
If you’d like to see if you are eligible to file a claim, please reach out to your Client Relationship Manager.