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Treasury to Keep 'Use-It-or-Lose-It' Rule for Flexible Spending Accounts
Business Insurance; free registration requiredLink to more items from this source
Jan. 6, 2005
Excerpt: The Treasury Department is sticking with its 'use-it-or-lose-it' requirement for health care flexible spending accounts. Treasury Secretary John Snow has rejected a request by Senate Finance Committee Chairman Charles Grassley, R-Iowa, to revamp the nearly 21-year-old rule, which requires FSA participants to forfeit unused account balances at the end of a plan year. FSAs are funded by employees through pretax dollars.

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