Flexible Spending Account
Questions and answers
On October 2013, the Treasury and the IRS modified the forfeiture (“use-or-lose”) rule for health care flexible spending accounts (FSAs). FSA programs may now allow their participants to carry over up to $500 of unused health care FSA funds to the next plan year OR allow enrollees up to a 2-1/2 month grace period at the end of the plan year to use the funds in their flexible spending accounts. The IRS rule on carry over only applies to health care FSAs not Dependent care FSAs.
FSAFEDS offers carry over for its Healthcare FSA and Limited Expense FSAs.
FSAFEDS offers carry over for its Healthcare FSA and Limited Expense FSAs.