Flexible Spending Accounts Rules Changing
Workers who have health flexible spending
accounts will be getting some good news! The United States Treasury Department
has announced that it will be relaxing the rule that says account holders must
use up their funds by the end of the year, or the funds will be lost. Employers
now have the option to allow employees who participate in these health flexible
spending accounts to carry over up to $500 to the next year. Health flexible
spending accounts, commonly known as FSAs or HSAs, are accounts that hold
pre-tax dollars to pay for out-of-pocket medical expenses. Roughly 14 million
families use flexible spending accounts already, and these changes may
encourage even more workers to sign up for these plans. Employers may implement
these changes in their company as early as the 2013 plan year.
518 Arbor Hill Rd.
Kernersville, NC 27284
Ph: 336-996-3338
