Changes to FSAs and HSAs Nothing to Sneeze At

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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.

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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