Faculty & Staff

Change in Unreimbursed “Carryover” Rule in Effect for 2014

IRS released a notice on October 31, 2013 permitting the carryover of up to $500 in your unreimbursed medical accounts. This change means the “use it or lose it” rule won’t apply unless you have more than $500 in unused funds. This rule is effective for the 2014 plan year and the first carry over would be possible in to the 2015 plan year. If you have further questions, feel free to ask during the sign ups!