Know Your New Options for Your Flexible Spending Account

Many health care plansinclude a Flexible Spending Account.

Medical and other expenses come out of these pre-tax, but until recently, the money was use-it-or-lose-it.

Depending on your employer, those rules might be more flexible now.

In 2014, the rules changed, but most people don’t care until the end of the year.

But

employers

weren’t required to make the change.

And some employers offer neither option, requiring you to use the money by year-end.

These new rules don’t apply to Health Savings Accounts.

Those accounts always let you carry your full balance from year to year.

Spending Down a Flexible Spending Account| Kiplinger

Photo by401(k)2012.