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Still time to take advantage of new FSA rule

Now that the IRS has made health flexible spending accounts more attractive, its time for HR professionals to swing into action.

By Dan Cook | Updated on November 08, 2013

Now that the IRS has made health flexible spending accounts more attractive, it’s time for HR professionals to swing into action.

The IRS is now allowing a $500 carryover from year to year for FSAs in which employees have dough for medical care. Previously, there was no carryover options — those only applied to traditional employee health savings accounts. The IRS is now narrowing the differences between the two, differences which already had many employees scratching their heads when asked to cite them.

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Dan Cook

Dan Cook

Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.

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