As a reminder to all Flex Plan participants, the U.S. Treasury Department has modified the Flexible Spending Arrangement (FSA) “use-it-or-lose-it” provision to allow carryover of Health Care FSA funds. Beginning with the 2014 plan year, all savings under the plan must be used by December 31, 2014, with the exception of up to $500, which can be rolled into the 2015 plan year and used throughout 2015. There will no longer be a 2.5 month grace period as in years past.
For more information contact HR at hr@up.edu.