IRS Changes FSA Card World
For employers that sponsor flexible spending accounts,electronic payment cards, commonly referred to as FSA debit cards,are nothing new. But the way plans must administer debit cardprograms is now very different.
On May 10, 2003, the Internal Revenue Service issued guidance,Revenue Ruling 2003-43, which explains how to use a stored valuecard or credit card to pay for medical expenses through a healthflexible spending account or health reimbursement arrangement.
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