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Flexible Spending Accounts

Did you know that unused flexible spending account (FSA) money is kept by the employer? An employer is stuck with a loss if an employee leaves the company during the year and has used more FSA money than he/she contributed.

To offset this loss, the employer keeps unused money from other employees' FSAs. Money remaining in a dependent-care FSA, however, is available only after an employee has contributed enough, so the employer doesn't lose out if the employee leaves.

 

Original Published date: Originally Published in Bottom Line Personal on Feb 10, 2006

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