Which of the following statements about flexible spending accounts is NOT true?

Question

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Flexible spending accounts can be used for a variety of qualified expenses, including healthcare, dependent care, and transportation expenses. They are regulated under the federal tax code and permit pre-tax employee contributions. However, any unused funds at the end of the plan year typically revert back to the employer, making it important for employees to carefully estimate their expenses and use all funds before the deadline.

Which of the Following Statements About Flexible Spending Accounts Is