Flexible Spending Accounts Get A Little Less Inflexible With Ability To Roll Money Over

Flexible Spending Accounts Get A Little Less Inflexible With Ability To Roll Money Over

Some 14 million American families participate in employer-sponsored flexible spending accounts that let you put pre-tax money into an account to be used on medical expenses that aren’t covered by insurance. But millions of consumers elect not to have an FSA because of the “use it or lose it” requirement that forfeits unused funds at the end of the year. So in an effort to get people participating, the IRS will be allowing companies to offer FSAs that let employees roll over up to $500 in unused funds into the next year. [More]