Friday, April 2, 2010

Flex spending changes

The new health care reform bill makes a number of changes to flexible spending accounts, most of which I don't like.

For example, it sets a federal limit of $2,500 for annual contributions (previously, there was no cap, although most companies and the state of California set a cap of $5,000) and it removes over the counter medications from the list of eligible reimbursement. OTC medications have made up a big part of my flex spending purchases.

The changes go into effect in 2011 (for OTC medications) and 2013 (for the contribution cap).

1 comment:

  1. Ugh, I hadn't even noticed that change. I've never used that much in my FSA before but that's because I hadn't committed to any major health care.

    I really hate the removal of OTC meds from the eligibility list.


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