Once your PeopleKeep benefit begins, unused allowance will accrue each month throughout the benefit year. This means if you aren't able to use the benefit for a period of time, you'll have the rest of the year to take advantage of that money. This can be great if you're saving up for a large expense that you know you're going to have at the end of the year.
What to expect on the first of each month
Your benefit is an annual allowance allotted on a monthly basis, so each month you'll get another piece of your annual allowance. If you have an expense that exceeds your available balance, the remaining amount will show due once you have the funds available in your account. Your account will automatically show your new monthly allowance on the first day of each month during the year.
How a new year affects your accrued balance
Although balances accrue within a benefit year, they don't carry into a new benefit year. In order to have access to the available balance for a certain benefit year, you'll need to have eligible expenses during that year. For example, 2019 benefit amounts can only reimburse 2019 expenses. You won't have access to the previous benefit year's balance for any expenses incurred during the new year.
When a new year starts, you'll have 90 days to submit expenses from the previous year. The previous year closes after 90 days so you'll want to submit those expenses as soon as possible.