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.
The FSA is now a much better deal for workers, but employers have to get the word out to them if they're to take advantage of it in 2014.
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:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 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.
