Use-it-or-lose-it is Gone! (Sort of)

The U.S. Department of the Treasury and the IRS on  issued a notice today modifying the longstanding “use-or-lose” rule for health flexible spending arrangements (FSA). Participants now can carry over up to $500 of their unused balances remaining at the end of a plan year.

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