Summary

As the year comes to a close, workers who hold flexible spending accounts (FSAs) would do well to check their remaining balances and maximize their tax advantages by paying for qualified medical expenses with their FSA.  Previous analyses of EBRI’s FSA Database suggested that roughly half of accountholders carried a balance that implied a forfeiture of some funds back to their employer.  This Fast Fact reviews the outcome of recent innovations that may make it easier for workers to spend down their FSA balances.