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The $2,500 limit on salary reduction contributions to a health FSA applies on an employee-by-employee basis. Thus, $2,500 (as indexed for inflation) is the maximum salary reduction contribution each employee may make for a plan year, regardless of the number of other individuals (for example, a spouse, dependents, or adult children (see § 105(b)) whose medical expenses are reimbursable under the employee’s health FSA. Consistent with this rule, if each of two spouses is eligible to elect salary reduction contributions to an FSA, each spouse may elect to make salary reduction contributions of up to $2,500 (as indexed for inflation) to his or her health FSA, even if both participate in the same health FSA sponsored by the same employer.
1 posted on 11/15/2012 1:40:52 PM PST by NonLinear
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To: NonLinear

Fine. Does not effect me. I’ve never used HSA.


2 posted on 11/15/2012 1:44:11 PM PST by Sequoyah101
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To: NonLinear

Flex accounts imply the ability to make sound personal choices based on gathering information and applying logic.

Prohibited by the Baraqqi regime.
sorry about that....


3 posted on 11/15/2012 1:45:30 PM PST by nascarnation (Baraq's bankruptcy: 2016)
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To: NonLinear
Don't qoute me on this, but their was never a $5,000 cap, it was technically unlimited. Corporations gave us the $5,000 cap. It is now $2,500 per person, and if a husband and wife each have one they still could get a $5000 total..

Freeper CPA's Enrolled Agents tell me where my research is wrong and I will stand corrected...

4 posted on 11/15/2012 2:08:00 PM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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*


10 posted on 11/15/2012 2:31:08 PM PST by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
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To: NonLinear

FSA (Flexible Spending Account) is different form HSA (Health Savings Account). I have had both and but I now only have an HSA. I believe the FSA is a “use it or lose it” fund whereas HSA is deposited into a bank account which is yours forever. Both are not taxed and have a limited per year. So, that being said, does this apply to HSA as well?


16 posted on 11/15/2012 4:35:55 PM PST by klimeckg ("The penalty good men pay for indifference to public affairs is to be ruled by evil men.")
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