What are the changes to the IRS Guidelines for the FlexBen products?

Employers offering health  FSAs  and dependent care  FSAs (DCAs) may allow (but are not required to allow) any remaining balances at the end of plan years ending in  2020  and  2021  to roll into the following plan year.

Employers offering health and  DCAs  may extend (but are not required to extend) grace periods for up to  12  months for plan years ending in  2020  and  2021.

Employers offering health  FSAs  may allow (but are not required to allow) employees who terminate during  2020  or  2021  to spend down unspent balances through the end of the plan year. This is similar to what is already permitted for  DCAs.

Employers offering dependent care  FSAs  may extend (but are not required to extend) the age limit for qualifying children from  13  to  14  for a plan year for which open enrollment ended before January  312020, and for any unspent funds from that plan year that are available (either by rollover or grace period) to the employee during the following plan year.

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