If you failed to use all the money in your health-care flexible spending account in 2019, you're running out of time to do so. March 15 is the deadline for employees who received a reprieve from their employers. Here's how to best use the money.
Health-care flexible spending accounts allow you to put away pretax dollars and use them for qualified medical expenses, including vision and dental costs.
Workers were able to put away $2,700 in a health-care FSA in 2019. That number goes to $2,750 for 2020.The money you've been diligently saving in 2019 is about to vanish. Employers may choose to allow workers to carry over $500 into the new year. They may also give them up to March 15 of the following year to use the remaining cash.In 2018, nearly 3 in 4 companies with 200 or more employees offered these FSAs, according to data from the Kaiser Family Foundation.
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