Although varied by the company's plans, the maximum amount allowed by IRS for the flexible spending account (FSA) is $4,000 in 2011. Please be aware that this limit will be capped at $2,500 per year from 2013. The flexible spending account is a pretax account for medical expenses.
If you have been considering some elective medical procedures that are not fully covered by the health insurance, you can make the most of your FSA in 2012 to take the higher FSA amount.
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