|
#4
08-07-2005, 03:57 AM
| |||
| |||
 Re: FSA Accounts and changing monthly contributions A.G. Kalman wrote: - quote - > anthonymmfalcone[at]yahoo.com wrote:
Last part of the last sentence of my post should have said> > I understand how Flexible Spending Accounts (FSA) work. My > > question is, if I am allowed to change my 401k contribution > > on a monthly basis, why can the FSA contribution be changed > > only once a year, or only upon a life-changing event > > (birth/adoption/death etc)? Why not monthly? > > > Is this a federal government rule? IRS rule? or just a > > function of the specific company one works for? > IRS regulations dictate that the amount of the reduction > cannot be changed during the plan year unless an employee > experiences a change in family status (newborns, adoptions, > marriage, divorce, dependent death, or spouse stops > working). A plan is allowed to provide the employees the > right to change their election if there is a significant > change to the cost or coverage of the health. "health plan." -- Alan http://taxtopics.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
#3
08-04-2005, 12:43 PM
| |||
| |||
| Re: FSA Accounts and changing monthly contributions anthonymmfalcone[at]yahoo.com wrote: - quote - > Thanks for the info, Alan. So, if I wanted to start a
You need legislative action.> grassroots effort to change that rule, it would require an > Executive ruling by the President, or a new law in Congress? > Not that I would be successful in such a herculean tastk... > but I was just wondering. -- Alan http://taxtopics.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
#2
08-02-2005, 02:53 PM
| |||
| |||
| Re: FSA Accounts and changing monthly contributions A.G. Kalman wrote: - quote - > anthonymmfalcone[at]yahoo.com wrote:
Last part of the last sentence of my post should have said> > I understand how Flexible Spending Accounts (FSA) work. My > > question is, if I am allowed to change my 401k contribution > > on a monthly basis, why can the FSA contribution be changed > > only once a year, or only upon a life-changing event > > (birth/adoption/death etc)? Why not monthly? > > > Is this a federal government rule? IRS rule? or just a > > function of the specific company one works for? > IRS regulations dictate that the amount of the reduction > cannot be changed during the plan year unless an employee > experiences a change in family status (newborns, adoptions, > marriage, divorce, dependent death, or spouse stops > working). A plan is allowed to provide the employees the > right to change their election if there is a significant > change to the cost or coverage of the health. "health plan." -- Alan http://taxtopics.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
#1
08-02-2005, 02:34 PM
| |||
| |||
| Re: FSA Accounts and changing monthly contributions Thanks for the info, Alan. So, if I wanted to start a grassroots effort to change that rule, it would require an Executive ruling by the President, or a new law in Congress? Not that I would be successful in such a herculean tastk... but I was just wondering. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
08-01-2005, 01:24 AM
| |||
| |||
| Re: FSA Accounts and changing monthly contributions anthonymmfalcone[at]yahoo.com wrote: - quote - > I understand how Flexible Spending Accounts (FSA) work. My
IRS regulations dictate that the amount of the reduction> question is, if I am allowed to change my 401k contribution > on a monthly basis, why can the FSA contribution be changed > only once a year, or only upon a life-changing event > (birth/adoption/death etc)? Why not monthly? > Is this a federal government rule? IRS rule? or just a > function of the specific company one works for? cannot be changed during the plan year unless an employee experiences a change in family status (newborns, adoptions, marriage, divorce, dependent death, or spouse stops working). A plan is allowed to provide the employees the right to change their election if there is a significant change to the cost or coverage of the health. -- Alan http://taxtopics.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
#-1
07-30-2005, 05:18 AM
| |||
| |||
| FSA Accounts and changing monthly contributions I understand how Flexible Spending Accounts (FSA) work. My question is, if I am allowed to change my 401k contribution on a monthly basis, why can the FSA contribution be changed only once a year, or only upon a life-changing event (birth/adoption/death etc)? Why not monthly? Is this a federal government rule? IRS rule? or just a function of the specific company one works for? Thank you. Tony Falcone << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
| Tags |
| accounts, changing, contributions, fsa, monthly |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Monthly Reports use closed accounts RayS: I just upgraded to Money Plus Premium and was trying various things to make sure it all worked. I can set up most reports to include the Accounts... | Microsoft Money | 5 | 08-05-2008 11:09 AM | |
| Setting up associated cash accounts & the role of "contributions" Max: I used to consider myself reasonably software savvy before this came up. I bought MS Money 2006, made online connections to several investment... | Microsoft Money | 11 | 06-23-2006 11:18 PM | |
| Changing Mortgage/Loan payment from monthly to every other week AdrianB: Using MS MONEY 2005 Deluxe, I've been successful in converting my car loan payment frequencies and values from monthly to every-other-week. ... | Microsoft Money | 2 | 09-22-2005 02:37 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
