Why is flexible spending account use it or lose it

However, there are limits on the tax savings, and you must use the money within the time period allotted or you lose it.If you are interested in seeing an eye doctor or optometrist in seattle or need to see a doctor in a specialty outside of eye care, you may want to consider what the professionals at spex eye care have to offer.A flexible spending account, also called an fsa, is a good way to put aside money to pay for healthcare or daycare expenses.There are several aspects of fsa benefits you should understand before attempting to use.Since most cafeteria plans renew at the beginning of the new year, now is the time for employers to enroll in new plans.

Use it or lose it.Use it or lose it:Unused funds at the end of the plan year are forfeited to the plan.Cobra is a federally mandated program that allows some employees to continue their current health coverage for up to 18 months after leaving a job.Employers now have several options to offer employees with an fsa:

Under original rules instituted by the internal revenue service, you.Any money leftover at the end of the year was forfeited.