Posted by on November 5, 2013
This is the time of year employees generally elect how much of their 2014 wages
will be deferred to their employer-provided Flexible Spending Account (FSA.) It is
always a challenge to estimate just how much of this tax-deferred money one will
actually use throughout the year and under the old “use it or lose it” policy there
was a risk of forfeiture. The new rule that rolled out with the health care
legislation now allows an employee to roll over up to $500 of unused funds into
the next year. This is effective immediately (for 2013) but is not mandatory
that employers offer this option – worth checking into, though.
