Leave of Absence
Important FSA Plan RulesThe only time outside of your new hire or open enrollment windows that you can make changes to FSA elections is when you experience a qualifying life event You have until March 15th of the following year to use your Healthcare FSA dollars, and until March 31st to file your claims If you elect FSA in one plan year, and wish to elect for the following plan year, that election must be made during Open Enrollment. There is no roll-over with FSAs If your employment with loanDepot ends, your FSA eligibility will end on your last date of employment. You will not be able to submit expenses for claims incurred following your separation date If you have any claims at the time of your termination that you have not been reimbursed for, you will have 90 days to submit for reimbursement with MyChoice Accounts. Unused funds will be forfeited Most claims will require you to submit documentation to verify that the expense is FSA-eligible. If you do not submit the requested documentation, your access to FSA funds may be restricted until you do.
Employees who need to take a Leave of Absence (LOA) due to their own serious health condition, caring for a family member with a serious health condition, the birth, adoption or foster placement of a child, military service or exigencies arising from having a family member who is active duty in the military may be eligible for job-protected leave under Federal and State law. Please contact the Benefits Team at liveWell@loanDepot.com if you need to take a Leave of Absence, and see below for additional information on the different types of leave available.