Use-it-or-lose-it is no more.

The U.S. Department of the Treasury and the IRS on Oct. 31issued a notice modifying the longstanding “use-or-lose” rule forhealth flexible spending arrangements. Participants now can carryover up to $500 of their unused balances remaining at the end of aplan year.

The rule will go into effect for the 2014 plan year.

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