November 26, 2013 Section 125 Plans: Modification of the “Use or Lose” Rule
The Internal Revenue Service recently issued Notice 2013-71 (“the Notice”) which modifies the “use-or-lose” rule for health flexible spending accounts (“FSAs”) established pursuant to Section 125 of the Internal Revenue Code (“the Code”). The “use-or-lose” rule provides that any monies remaining in an FSA...