CHARLOTTE, N.C., Nov. 15, 2013 /PRNewswire/ -- In response to the new ruling allowing a carryover on FSAs, Infinisource has built a comprehensive online FSA Resource Center where brokers, clients and their employees can learn more about the new ruling, as well as find participant saving tools and general information on FSAs.
On October 31, 2013, the Department of Treasury issued guidance that modified its FSA use or lose provision to allow carryover of FSA funds at the employer's option. This change addresses the single biggest fear that employees have before enrolling in an FSA – losing money. Employers that educate their workforce about this new provision should see an increase in participation and elections, providing additional FICA savings.
"With this exciting rule change, now is the perfect time to implement a health flexible spending account or work on increasing participation, both of which will save employer taxes," said Gary Trainor, President of Infinisource.
The new FSA Resource Center is a one-stop shop for all things FSA, including enrollment forms, FAQs, brochures, savings example, infographics and SlideShares. Resources will continue to be added as they become available. The tools and resources will help educate employees on the impact of the new rule, the benefits of an FSA and how they can keep more of their money. The center should also help employers maximize enrollment.
About Infinisource Inc.
Founded in 1986, Infinisource is a nationally recognized leader of Workforce Management technology solutions that was recently named to the Inc. 500-5000 list of fastest-growing companies. Infinisource offers iSolved, a single database for HR, Payroll, Time and Attendance and Benefits Administration, as well as administration for COBRA, Flexible Spending Accounts, Health Savings Accounts and Health Reimbursement Arrangements. The company has more than 4,000 broker relationships and 63,000 employer clients. Infinisource is a leader in employment law, compliance and education. For more information, please visit www.infinisource.com.
CONTACT: Lina M. Tonk
SOURCE Infinisource Inc.