Can I as an individual add additional monies into the spending accounts? What are the advantages?
Yes. Individuals who have used all of their credits (and those without credits) are encouraged to contribute to a flexible spending account if they believe they will have eligible expenses. When used correctly, spending accounts can offer considerable tax savings – subject to program maximums and forfeiture if not used. Please check the flexible spending account area of the benefits office website for more information: Http://www.uiowa.edu/hr/benefits/spendacct/index.
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