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Bill proposes to end FSA forfeiture rule

Congressmen Charles Boustany, R-La., and John Larson, D-Conn., introduced the Medical Flexible Spending Account Improvement Act, which would allow consumers to withdraw and pay taxes on any residual funds in their medical flexible spending accounts.

By Amanda McGrory-Dixon | Updated on March 11, 2011

Congressmen Charles Boustany, R-La., and John Larson, D-Conn., introduced the Medical Flexible Spending Account Improvement Act, which would allow consumers to withdraw and pay taxes on any residual funds in their flexible spending accounts, rather than requiring them to surrender the balance to their employer, as outlined by current rules.

Save Flexible Spending Plans, an advocacy campaign that promotes FSAs, commended the bill’s sponsors for focusing on the issue.

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