New contribution limits coming on flexible spending accounts

Q: I read that the contribution limit for flexible spending accounts is going to be reduced to $2,500 in 2013. My employer has been giving us until March 15 of the following year to use up our FSA money. Will that grace period still apply or will I have to use up all of the 2012 money by Dec. 31?

By Kimberly Lankford, Kiplinger Personal Finance

November 28, 2012