AGD Supports FSA Improvement Legislation
The AGD sent a letter of support to the sponsors of the Responsible Additions and Increases to Sustain Employee (RAISE) Health Benefits Act on May 10. The RAISE Health Benefits Act would give families more control of their medical spending by making several reforms related to flexible spending accounts (FSAs).
Specifically, the bill would increase the cap on annual contributions from $2,700 to $5,000, allow families with more than two dependents to save an additional $500 per dependent, and eliminate the "use-it-or-lose-it" rule so that families can rollover the entire amount of their FSA year over year. The legislation has bipartisan support and has been introduced in prior sessions of Congress.
Impact on General Dentistry: The AGD believes the current restrictions on FSAs significantly hinder a mechanism that allows consumers to set aside pretax dollars to pay for oral health services and items that are not covered by insurance. AGD is working with the sponsors of the legislation and allies in organized dentistry to have the legislation enacted into law.
Specifically, the bill would increase the cap on annual contributions from $2,700 to $5,000, allow families with more than two dependents to save an additional $500 per dependent, and eliminate the "use-it-or-lose-it" rule so that families can rollover the entire amount of their FSA year over year. The legislation has bipartisan support and has been introduced in prior sessions of Congress.
Impact on General Dentistry: The AGD believes the current restrictions on FSAs significantly hinder a mechanism that allows consumers to set aside pretax dollars to pay for oral health services and items that are not covered by insurance. AGD is working with the sponsors of the legislation and allies in organized dentistry to have the legislation enacted into law.