Monday, October 15, 2012

Obamacare strikes gain: New limits on Flexible Spending Accounts coming Jan. 1


“It is just another example of something Obamacare does and it has no business going there—it is a relatively small offset,” he said.
“Why do that?” he asked.
“The FSA turned power back to the purchaser, the patient, that’s where it belongs,” he said.
Jody Deitel, the compliance officer for WageWorks (WAGE-NYSE), a San Mateo, Calif.-based human resources and compensation company, said the changes to the Flexible Spending Accounts are not good health care policy.
“Sadly, because you can only use them for health care expenses, the limit is really going to affect those who really need it the most,” she said. “It will hurt people with chronic illnesses, special needs kids, people with autism, so it’s not really a health care friendly policy—it was a revenue grab,” she said.
The new restrictions mean higher taxes on working Americans and less control over how they manage their own health care and other decisions, she said.

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