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WDKX.com » Blog » Changes Coming To Flex Spending Accounts
Nov 1st 2013 6:32 am
Changes Coming To Flex Spending Accounts
by news


A change could be coming to your flexible spending account.

Workers who take advantage of special tax-free accounts to pay for medical expenses may soon be allowed to carry over money from one year to the next.

Traditionally, any money left in the account at the end of a calendar year was forfeited. Now a new rule will permit employers to let participants carry forward up to $500.

According to the Treasury Department employers are not required to allow the change.

This new option can be put in place by an employer at any time they find convenient.

Source:Whec