Save up to 90% on a Hartford Courant subscription. Click here to sign up now!

Health Insurance

Act now to make the most of your flexible spending account

Q: My employer changed our flexible spending account rules so we can now roll over as much as $500 in the account to the following year. In the past, we had a grace period until March 15 of the following year to use the money. Do we still have until March 15 to use the money?

A: Employers can't offer both the $500 rollover and the March 15 grace period. Because your employer changed its plan to offer the $500 rollover, you must use the rest of the money in your account by the end of the plan year (usually December 31). Some employers offer the rollover, some offer the grace period, and some still require employees to use all of the money in their accounts by December 31 with no...