The answer to this question depends on how your employer has designed its ICHRA plan.
- Some employers set the Health Wallet funds to expire at the end of each plan year.
- Other employers allow the entire Health Wallet balance to roll over year-over-year.
- Or, the employer may allow only a portion of the Health Wallet to roll over.
What happens if you separate from your employer?
- You can typically maintain access to your Health Wallet by participating in the employer's COBRA plan.
- However, once you terminate your ICHRA coverage, you forfeit your Health Wallet balance.