Workers Face Loss of Tax Break on Flexible Health Plans

MILLIONS of workers would lose Federal tax breaks averaging several hundred dollars a year under a little-noted provision of the Clinton Administration's health plan. And even if the plan does not pass, the breaks could well be eliminated. Flexible health spending accounts, which allow workers to deduct out-of-pocket medical costs from their incomes for tax purposes, are about to go the way of another popular tax break that was sharply curtailed, the individual retirement account.

Source: http://www.nytimes.com/1993/12/12/business/workers-face-loss-of-tax-break-on-flexible-health-plans.html?partner=rssnyt&emc=rss

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