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If new law legislation introduced today becomes law, the days of the FSA “use it or lose it” rule could become a thing of the past.

The Medical Flexible Spending Account Improvement Act, introduced today by Senators Ben Cardin, D-Md., and Mike Enzi, R-Wyo., would allow consumers to pay taxes on and withdraw any remaining funds in their employer-sponsored FSAs. Rules require that any leftover balance in an FSA must be forfeited to the employer at the end of the plan year.

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