Millions of families across the nation will walk away from billions of dollars in flexible spending account savings by the year’s end, but there is still time to change that.
Every pay day, millions of workers wisely put tax-free money into flexible health spending accounts or FSA’s, but almost half of those workers later forfeit much of that money,"Somewhere in the neighborhood of $370 [each],” Jake Spiegel with the Employee Benefit Research institute said.That amounts to $3 billion total each year, and Spiegel said the money generally is no longer yours at that point.
In addition, “Some FSA’s have a rollover feature, where you can roll over $500 or $600 dollars,” Spiegel said.
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