IRS stretches flexible spending plans even more

Solink, Claude
October 2005
Long Island Business News (7/1993 to 5/2009);10/7/2005, Vol. 52 Issue 42, p5B
Focuses on the move of the U.S. Internal Revenue Service to offer companies the option to give employees until March 15 of every year to spend the tax-exempt money for medical and childcare expenses allocated for them. Intention of the agency to avoid the use it or lose it mentality of employees that has penalized people for miscalculating medical costs; Significance of making these flexible-spending plans more flexible; Ability of employees to take advantage of pre-tax benefits.


Related Articles

  • Flexible spending extension expected to be little-used. Donhardt, Tracy // Indianapolis Business Journal;9/26/2005, Vol. 26 Issue 29, p22A 

    Reports on the new health care flexible spending accounts rule introduced by the Internal Revenue Service in the U.S. Aid of the rule to allow participants to set aside a predetermined amount of pretax money to be used for medical, dental and vision expenses not covered by insurance; Application...

  • To Change FSA Deadline, Modify Plan Documents. Silberman, Ralph M. // HR Magazine;Jul2005, Vol. 50 Issue 7, p28 

    Provides information on flexible spending accounts (FSA) sponsored by employers for the reimbursement of health and dependent care expenses of employees in the U.S. Significance of FSA in the reduction of employee health care costs; Average heath care FSA contribution for 2005; Terms of the...

  • Extended FSA deadline should further increase participation.  // Drug Store News;6/6/2005, Vol. 27 Issue 8, p52 

    The article reports that the U.S. Treasury Department and the Internal Revenue Service in May 2005 extended the deadline for the use of Flexible Spending Accounts (FSA). The employees now can apply last year's funds to this year's health care purchases up to March 15, somewhat mitigating the...

  • IRS signals caution on cafeteria plan auto enrollment. McCord, Thomas J. // Employee Benefit News;Jul2002, Vol. 16 Issue 9, p17 

    Focuses on the U.S. Internal Revenue Service (IRS) ruling in 2002 that approved automatic enrollment in cafeteria plans that do not restrict employee's ability to opt out before enrollment. Situations posed by the IRS to justify the ruling; (IRS); Status of employee's salary deduction under the...

  • Debit card rules boost FSAs, HRAs. Blassingame, Kelley M. // Employee Benefit News;6/15/2003, Vol. 17 Issue 8, p1 

    Focuses on rules issued by the U.S. Internal Revenue Service on the use of debit cards that will boost flexible spending and health reimbursement accounts offered by employers. Benefit of the rules; Views on the rules; Difference between the two accounts.

  • Mid-Year Election Changes for Cafeteria Plan Benefits. Chandler, Darlene K. // Journal of Financial Service Professionals;Jan2001, Vol. 55 Issue 1, p40 

    Examines the proposed and final regulations issued by the United States Internal Revenue Service addressing mid-year election changes by cafeteria plan participants in 2000. Effectivity date; Importance of the regulations to financial service professionals who work with cafeteria plan...

  • Plan Now for New IRS Cafeteria Plan Proposed Regulations. Relland, Susan // Benefits & Compensation Digest;Nov2007, Vol. 44 Issue 11, p38 

    This article focuses on the proposed regulations on cafeteria plans released by the U.S. Internal Revenue Service (IRS) on August 3, 2007. IRS will hold a public hearing on the proposed rules on November 15. It details the changes on cafeteria plans that employers need to be aware of,...

  • Flexible spending now reaches to non-Rx meds. DeMarco, Peter A. // Crain's Cleveland Business;10/13/2003, Vol. 24 Issue 41, p24 

    The U.S. Internal Revenue Service (IRS) has recently announced that employees can use their flexible spending accounts to buy over-the-counter drugs, which represents a big change from what employers have widely assumed and enforced over the years. Through a flexible spending account, the IRS...

  • MAIN COURSE ON THE BENEFITS BUFFET. Price Jr., John M. // South Carolina Business Journal;Mar2003, Vol. 22 Issue 2, p1 

    Focuses on the establishment of the cafeteria plan employee benefit under Section 125 of the U.S. Internal Revenue Code. Definition of cafeteria plans; Structure of the benefits; Savings for employees.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics