Your before-tax contributions to your flexible spending account end when you retire from MIT. You may continue to submit claims for reimbursement from your account for any expenses incurred before your retirement date.
When you retire, you may continue contributions to your Health Care Flexible Spending Account (FSA), but only on an after-tax basis under the provision of the Consolidated Omnibus Budget Reconciliation Act (COBRA). By making after-tax contributions to your Health Care Flexible Spending Account, you can continue to submit claims for eligible expenses incurred between the date you retire and the end of that calendar year.
Your account will remain open until the following March 31. If you do not file your claims for reimbursement by that date, you will forfeit your account balance.