News & Articles

Year-End Reminder: Don't Forget FSAs

Posted on Wed, Nov 30, 2016
The holidays can be a joyous — but hectic — time of year. While you're juggling shopping for gifts, decorating your home and planning get-togethers with friends and family, it's easy to forget to spend any remaining funds in your Flexible Spending Accounts (FSAs) before New Year's Day. However, if you fail to observe the "use-it-or-lose-it rule," you could forfeit any money left over in your accounts, unless a special provision applies.

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Tags: Health FSAs, Year-End, Year-End Planning, Child and Dependent Care Credit, FSA

How to Get the Best of Health FSA Carryovers and HSA Contributions

Posted on Thu, Jul 03, 2014

Health savings accounts (HSAs) and health flexible spending accounts (health FSAs) are two types of tax-advantaged medical savings accounts that individuals can use to pay for qualifying medical expenses. But the two accounts don't necessarily mix, according to recent IRS Chief Counsel Advice (CCA) 201413005. Specifically, you can't contribute to both types of accounts in the same tax year -- and carryovers of unused general purpose health FSA balances count as contributions for purposes of this rule.

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Tags: Healthcare, EHTC Article, Health Savings Account, HSAs, Health FSAs, Health Flexible Savings Account, Newsletter, Articles