This type of account does not permit employees to carry over any remaining balance from year to year.

Question

Quizplus · Accepted Answer

Flexible spending accounts (FSA) do not allow for rollover of unused funds to the next year, making it important for employees to accurately estimate their medical expenses for the coming year. Health reimbursement accounts (HRA) and health savings accounts (HSA) may allow for rollover of funds depending on the employer's plan design. "Flexible savings account" is not a valid term, as the correct term is "flexible spending account."

This Type of Account Does Not Permit Employees to Carry