Many employees take advantage of Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs) that allow them to set aside pre-tax money for certain defined medical expenses. These accounts can lower employee’s income subject to taxation, and result in the employee paying less income tax.

As a parent, as well as an attorney, I see two changes to current FSA and HSA regulations imposed by the Healthcare and Education Reconciliation Act of 2010 (Reconciliation Act P.L. 101-152) that could really affect families.