Employee Benefits - New Rollover Option Available to Health Flexible Spending Account Plans
3.3.2014
March 3, 2014
In this issue:
New Rollover Option Available to Health Flexible Spending Account Plans
The tax rules were recently changed, to allow up to $500 of an unused health flexible spending account balance to be rolled over for use in the next plan year. This new rollover option provides an alternative to the current grace period rule, which otherwise would allow unused account balances to be used toward claims incurred up to 2 ½ months after the end of the plan year.
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