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Nico Insurance Services Inc. 7290 Navajo Road, Suite 101 San Diego, CA 92119 CA License # 0G11941 Ph:  (619) 667-2111   (800) 303-3737 Fax:  (619) 667-2100	Annual Loss of Unused Funds The payroll redirection that you choose will be in effect for the entire plan year. Also, according to the IRS, any unused funds in your account at the end of the plan year grace period must automatically be forfeited. This is called the "Use It or Lose It" rule. Estimates on expenses should always be conservative for this reason. In addition, funds in one account cannot be transferred to another account. To be sure you maximize the tax savings of the Flexible Benefits Plan, you will want to estimate how much money you should redirect back to the Medical Reimbursement and/or Dependent Care Assistance Accounts. A good place to start is the review of any expenses you have already incurred over the last year. For information or personal assistance, please contact the Benefits Department or our Flex Plan Administrators. If you have any questions regarding Flexible Benefit Plans, please contact Gale Seaman.