On October 31, 2013, the U.S. Department of the Treasury changed the “Use It or Lose It” rule, providing employers the ability to offer a Carryover option which allows for up to $500 of FSA balances remaining at the plan-year end to carry over for use during the next plan year. The Carryover option is available with healthcare and limited purpose FSAs.
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Understanding Employee Benefit Acronyms: A Quick Guide
Employee benefits often include a lot of acronyms. What do these and other acronyms mean? They are primarily used in ...
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