Let’s say your annual maximum is $1,000, but you only use $200 in claims this year. You’re eligible for a carryover since you used less than half ($500) of the dollars available to you. Beam will take one-fourth of your annual maximum and apply it to future years—in this case, it’s $250.
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Next year’s annual maximum is now $1,250, assuming you stay under the same plan. Note that the carryover will continue into the following year if you don’t use up the annual maximum again, but it is capped at a certain amount, depending on your plan.
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While Beam Benefits offers custom plans for groups, here are a few more examples of how the carryover works for our most popular options: