Changes to Medical Flexible Spending Accounts in 2013

There is an important change coming to Medical Flexible Spending Accounts, beginning with our next plan year, starting Jan. 1, 2013. Recent legislative changes will set the maximum allowable annual contribution to Medical FSAs at $2,500. Currently, there is no maximum set by the IRS for these accounts and employers could set the maximum (North Shore’s current annual maximum is $7,500). If you are contributing to the Medical FSA, please keep this in mind for planning for next year. Contact Pauline Paulson in Human Resources with questions.

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