IQVIA Benefits Handbook
ANSWERS TO FREQUENTLY ASKED QUESTIONS
May I change my FSA contributions during the year?
Only if you have a change in life status and the change in your contributions is consistent with your life status change. For more about qualified life status changes, see the Participating in the Health Care Plans section.
If I do not use up my full account balance, what happens to the money?
Any money left in your account at the end of the calendar year may be used to cover eligible expenses you had while you were contributing to the account during that calendar year. You must file a claim by March 31 of the following year. Then, any money that is left will be forfeited, according to IRS regulations.
What happens to my FSA if I leave employment with IQVIA during the year?
No further contributions will go into your account. You may continue to submit Health Care FSA claims for expenses you had while you were employed for 90 days following your termination date. You may also continue your Health Care FSA through COBRA until the end of the year. Continuation is not available for the Dependent Care FSA. You may submit claims for dependent care throughout the calendar year.
What happens if I terminate employment with IQVIA and I am rehired in the same plan year? Can I elect a new health FSA election?
If you are rehired within 30 days of your termination (within the same calendar year) and wish to participate in the health care FSA, you must resume your previous election for the health care FSA for the remainder of the calendar year. You cannot make a new election until the next annual open enrollment period.
Can I transfer between my Health Care FSA to my Dependent Care FSA?
No. The accounts work separately. Based on IRS rules, you cannot transfer money between the accounts.
Can I have a Flexible Spending Account (FSA) and an HSA?
You can enroll in certain types of FSAs while you're enrolled in a Health Savings Account, including the Combination FSA and a Dependent Care FSA. However, you can't enroll in a Health Savings Account and a Health Care FSA at the same time.
Can I order a replacement FSA debit card or an additional card for my spouse?
Yes, please contact Mercer Marketplace at 866-268-0142 to request a new card.