You only have the duration of your plan year to spend your LPFSA benefit. At the end of the plan year, unused funds are forfeited to your employer. However, there are a couple exceptions. Employers can provide either a grace period or a carryover provision for LPFSAs (but not both).
Grace periods begin the day following the end of the plan year and normally lasts 2.5 months. During a grace period, employees have a little more time to spend their unused LPFSA funds. At the end of the grace period, any remaining funds are forfeited.
A carryover provision allows up to 20% of the IRS maximum contribution limit for the LPFSA to rollover into your next plan year when the current plan year ends. These funds will then be added to your new plan year election and will be available for the entire new plan year, as long as you are still enrolled in an LPFSA.
Your employer is the best resource for questions regarding your end-of-year LPFSA options. However, if you have any other questions, please reach out to Benepass Support for any assistance.