Time Running Out on FSAs

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Time Running Out on FSAs

 

Generally, amounts left over in a flexible spending account (FSA) for health care or dependent care expenses are forfeited at the end of the year. But some companies allow a 2½-month “grace period.”

The grace period for FSAs in 2016 ends on March 15, 2017. If possible, empty out your FSAs by then. Alternatively, an employer may arrange to carry over up to $500 of a remaining balance.

 

By | 2017-05-18T22:55:00+00:00 March 6th, 2017|Health Care, Individual Tax, News & Events|0 Comments

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Bobby M. Bragg

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