Flexible Spending Account: Time To Use It or Lose It

Flexible Spending Account: Time To Use It or Lose It

The end of the year is soon approaching, and employees need to spend their existing Flexible Spending Account balances by the year’s end — or lose it.

What Is A Flexible Spending Account?

Flexible Spending Account (also known as a flexible spending arrangement) is a special account that employees put money into that they can then use to cover particular out-of-pocket health care and dental expenses.

This money is virtually tax-free.

Aside from the $2,750 maximum, employees will find their unspent money forfeited at year’s end (excluding a $500 rollover amount) a la the “use-it-or-lose-it” rule.

We are here to remind you to use your dental dollars before they expire.

You have already paid a premium for dental insurance that often covers many dental treatments and procedures. However, you will want to be sure to use those benefits before they expire on December 31, 2023.

Appointments are quickly booking up, so contact us today to schedule your appointment before the end of the year.

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