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Frequently Asked Questions Insurance

I am enrolled in or considering a limited expense health care flexible spending account (LEX-HCFSA). Will the new IRS rule about carry over have any effect on me?

You are subject to the same rules as health care FSA participants.  You will have a grace period at the end of the 2014 plan year.  OPM needs to evaluate whether the carry over provision or the grace period is better for our participants.  Depending on the conclusion, OPM may need to make changes to systems and administrative processes.  Until we have fully analyzed the effects of the new rule, current enrollees can use the grace period but cannot carry funds over to the 2015 plan year.  

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