Flexible spending account holders may only have a few more weeks to use their 2011 FSA funds for medical expenses.
The IRS allows employers to offer a grace period until March 15 after the end of a plan year. That grace period extends the time in which FSA users can incur eligible medical expenses that can be paid for using pre-tax money that was put into the account during the elected 12-month plan period.
Grace period expenses are paid out from the prior year's FSA balance.
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