As the popularity of flexible spending accounts continues to rise, new and renewing participants may need help deciding how much to set aside in FSA contributions. In this article, we provide a quick overview of why FSAs are so popular, how they work, and how to calculate the annual contribution amount. Why are FSAs so … [READ MORE]
The Internal Revenue Service (IRS) published Rev. Proc. 2020-45, announcing annual limits for Flexible Spending Account (FSA) contributions, maximum carryover amounts, and Transportation benefit (Transit/Commuter/Parking) contribution limits. FSA, LPFSA, and related limits for 2021 will remain the same as they are for 2020. Learn more about 2021 FSA contribution limits and other updates below. 2021 FSA … [READ MORE]