FSAFEDS

• OPM: FSA participants can rollover $500 in unused funds

  Feds participating in the Federal Flexible Spending Account Program will now be able to rollover up to $500 from one year to the next in unspent funds from their limited expense and health care flexible spending accounts.

  Workforce

  September 04, 2014
• Will OPM allow flexible-spending rollovers?

  Under federal "use it or lose it" rules, any unspent money employees set aside last year to pay for out-of-pocket health costs, such as prescriptions or co-pays, is forfeited at the end of the year. But a group of senators from states surrounding the Washington, D.C., area, wants to change that. Sen. Ben Cardin (D-Md.) along with Sens. Barbara Mikulski (D-Md.), Mark Warner (D-Va.) and Tim Kaine (D-Va.) wrote to Katherine Archuleta, the head of the Office of Personnel Management, requesting the agency implement new regulations that would allow federal employees to roll over as much as $500 in unused funds from year to year.

  Congress

  December 30, 2013