Flexible spending extension expected to be little-used: Planners say total elimination of use-it-or-lose it rule would increase participation, make plans more useful

A new Internal Revenue Service rule relaxes the "use it or lose it" rule in flexible spending accounts by extending the period during which expenses may be incurred beyond the end of the plan year. Health care flexible spending accounts allow participants to set aside at the beginning of the year a predetermined amount of pretax money to be used for medical, dental and vision expenses not covered by insurance. Dependent care spending accounts do the same thing for child...

 

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