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Dentistry coalition, AAO ask Congress to reform flexible spending account rules

Washington — The American Association of Orthodontists, ADA and members of the Organized Dentistry Coalition are asking Congress to support legislation calling for the repeal of the "use-it-or-lose-it" rule for flexible spending accounts, allowing consumers to build balances over several years.

The RAISE Act, or Responsible Additions and Increases to Sustain Employee Health Benefits Act of 2019, would significantly expand the current flexible spending account annual contribution cap to $5,000. This would allow families with more than two dependents to save an additional $500 a year for each additional dependent.

Flexible spending accounts — commonly known as FSAs — enable consumers to set aside pretax dollars to pay for health care services and items that are not covered by insurance such as vision and dental services, doctor copayments, prescription drugs.