News
January 05, 2021
Appropriations Act Permits Midyear FSA Elections, Unlimited Carry-Over Amounts Through 2021
The Consolidated Appropriations Act (CAA), signed into law by President Donald Trump near the end of 2020, gives employers the option to allow participants to roll over all unused amounts in their health and dependent care flexible spending accounts (FSAs) from 2020 to 2021 and from 2021 to 2022.
Employers can also allow employees to change their health FSA or dependent care FSA contribution rate during 2021 without requiring an election-change event such as the birth or adoption of a child, or a change in marital status.
Employers can also allow employees to change their health FSA or dependent care FSA contribution rate during 2021 without requiring an election-change event such as the birth or adoption of a child, or a change in marital status.
For more information, visit https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/American-Rescue-Plan-Act-raises-depe
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