Credit: Aris Suwanmalee/Adobe Stock
It's that time of year again when employees with health care flexible spending accounts (FSAs) need to think about how to deplete funds in their account or risk forfeiting them. FSA remains a popular way for employees to save money on medical expenses and services while at the same time reduce their tax liabilities. Yet many employees don't understand how health care FSAs work and, as a result, end up forfeiting money. In fact, the Employee Benefit Research Institute estimates that more than 40% of workers with FSAs left money on the table in recent years, losing on average between $339 and $408 a year.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
