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FSA Start Date

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At our company, employees become benefits eligible on the first of the month after hire and then have 30 days to make elections. To illustrate, an employee who started 9/25, would be eligible for benefits on 10/1 and have until 10/31 to make elections.

My question is regarding benefit start date....If an employee were to wait until 10/15 to make benefit elections, I believe that it is permissible to have the medical, dental, vision and even life insurance policies start retroactively on 10/1. However in regards to HSA and FSA, am I correct in saying that those policies by law cannot go into effect retroactively and only qualified expenses incurred after the employee made the election are eligible?


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