Employer Health FSAs Just Got More Flexible

Law360, New York (November 14, 2013, 6:29 PM EST) -- On Oct. 31, 2013, the IRS issued guidance relaxing the use-or-lose rule applicable to health flexible spending arrangements ("FSAs") under employers’ cafeteria plans. Now an employer may amend its cafeteria plan to permit plan participants with unused health FSA balances remaining at the end of a plan year to carry over up to $500 to reimburse qualified medical expenses incurred in the next plan year. Employers with calendar year plans that want to adopt this carryover provision for unused health FSA balances remaining at the end...
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