FSAFEDS Increases Maximum Contribution


11/13/14: OPM has notified NTEU that the Federal Flexible Spending Account Program (FSAFEDS) is increasing the maximum contribution to the program by $50 to $2,550, due to inflation, as authorized by the IRS.  This increase will be for the 2015 benefit year.  This change will occur alongside two other FSAFEDS changes: health care and limited expense flexible spending accounts (FSAs) will no longer have a grace period, instead, qualifying participants will be able to carry over up to $500 of unused funds to the next plan year; and, the minimum annual election for all three types of FSAs will be reduced from $250 to $100.