FSA Limits for 2013
FSA Limits for 2013
For cafeteria plan years beginning after December 31, 2012, the IRS has issued new guidance on the $2,500 FSA limit. This limit was enacted by the Patient Protection and Affordable Care Act of 2010.
Paul Bonner, Senior Editor Journal of Accountancy has written an excellent article that provides a breakdown of Notice 2012-40. You can access his article by clicking on this link, http://www.journalofaccountancy.com/News/20125804.htm?. Employers with cafeterial plans need to make sure their plans are properly updated and that all employees are informed of the new rules.
