Home · Online Publications · Journal of Accountancy · Online Issues · March 1998 · By the Numbers Search Feedback


News Report
By the Numbers


Let's Be Flexible


Flexible spending accounts, used most commonly for health care and dependent care, allow employees to open tax-deferred savings accounts to meet health care expenses not covered by insurance plans or to pay a day care center, for example. However, these accounts must be spent by yearend or the money is forfeited.

Average contribution from participating employees for

Health care . . . . . . . . . . . .$744

Dependent care . . . . . . .$2,848

Average savings forfeited at year end . . . . .$136

Employers offering flexible health care accounts reporting forfeitures . . . . . .91%



Back
©1999 AICPA