Health spending account rollovers approved

WASHINGTON — The Treasury Department has announced a new rule allowing people who take advantage of special tax-free accounts to pay medical bills to carry over up to $500 from one year to the next.

For nearly 30 years, employees who were eligible to use the accounts had to forfeit any unspent money at the end of the year. The new rule announced Thursday permits employers to let plan participants roll over up to $500.

The accounts, known as flexible spending accounts, allow employees to contribute money directly from their pay, before taxes are deducted. The accounts can then be used to pay certain medical expenses not covered by insurance.

Treasury said an estimated 14 million people use the accounts.

More in Herald Business Journal

More business, more competition for Everett kidney dialysis center

Nonprofit Puget Sound Kidney Centers sees large for-profit competitors enter state market.

Suitors, beware: In Seattle, Amazon also brought disruption

The company has grown there from a workforce of about 5,000 to more than 40,000 in 33 buildings.

Boeing rushes to bring back retirees as temps

It’s unclear if this could be a definitive turn in the downsizing tide.

Tax cuts won’t generate as much economic growth as Trump says

There’s little historical evidence that tax cuts actually pay off in boosting economic growth long-term.

City of Marysville adds HR director

The City of Marysville has hired Bill Kolden as its new human… Continue reading

Economic Alliance to host After Hours event at Clothes for Kids

The next Economic Alliance Snohomish County Business After Hours event is from… Continue reading

Speed Networking planned by Lynnwood Chamber

The next Good Morning, Lynnwood Chamber Speed Networking is from 7:30 to… Continue reading

More self-awareness could help build a better medical system

Marcy Shimada of Edmonds Family Medicine writes the second in a series about fixing our health care system.

Scratch-and-sniff brochures aimed to prevent disaster

Puget Sound Energy has distributed more than a million scratch-and-sniff brochures to… Continue reading

Most Read