No. Even if funds are rolled over from a previous plan year, a participant can still elect up to the maximum FSA contribution amount allowed under their plan. So for instance, if a participant rolls over $500 from the 2014 plan year, and their employer allows them to make a $2,550 FSA contribution for the 2015 plan year, they can still elect the full $2,550 and roll over $500 from the prior year.