Benefits Client Alert: IRS and Treasury Extend the FSA Use-It-Or-Lose-It Rule
5/19/2005
For years, Congress and industry associations have prevailed upon the government to eliminate or at least liberalize the use-it-or-lose-it rule. With the issuance of Notice 2005-42, qualifying medical or dependent care expenses incurred within two and a half months of the close of a plan year may be reimbursed with unused FSA dollars from the immediately preceding plan year.
To learn more about this notice please click here.
