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BENEFITS: FSA changes sought

March 3, 2009 6:01 am ET

Rules applying to health flexible savings account would change under a bill recently introduced. HR 544, introduced by Rep. Edward Royce, R-Calif., would allow up to $500 of unused money in such accounts to be permanently carried over to subsequent plan years. Currently, unused money must be used by March 15 following the year during which the money was deposited. The bill also would allow the unused amounts to be rolled into certain other savings plans, including health savings accounts or qualified retirement plans. Mr. Royce introduced a similar measure in the last Congress which never made it out of committee. The new bill was referred to the Ways and Means Committee. For more information, visit thomas.loc.gov.

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Rules applying to health flexible savings account would change under a bill recently introduced. HR 544, introduced by Rep. Edward Royce, R-Calif., would allow up to $500 of unused money in such accounts to be permanently carried over to subsequent plan years. Currently, unused money must be used by March 15 following the year during which the money was deposited. The bill also would allow the unused amounts to be rolled into certain other savings plans, including health savings accounts or qualified retirement plans. Mr. Royce introduced a similar measure in the last Congress which never made it out of committee. The new bill was referred to the Ways and Means Committee. For more information, visit thomas.loc.gov.

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