Tag: flexible spending accounts

Health FSA Rule Change Explained

Under the new rule, a plan may — but is not required to — allow participants to carryover up to $500 in unused contributions to the next plan year. The $500 carryover does not count against the maximum employee contribution to an HFSA of $2500 per year.

FSA use-it-or-lose-it rule changed!

The U.S. Department of the Treasury and the IRS on Thursday issued a notice modifying the longstanding “use-or-lose” rule for health flexible spending arrangements. Participants now can carry over up to $500 of their unused balances remaining at the end of a plan year.

What you may not know about your FSA

Now is the perfect time for HR managers to keep details of FSAs top of mind and help employees understand the fine print so they recognize why enrolling this fall is the smart financial decision.

 

Fairmount Benefits Company

Two Radnor Corporate Center
Suite 110
Radnor, PA 19087
610-567-0175
800-527-3615

    Email Us