Alerts5.19.20
Relaxed Rules For Mid-year Election Changes And More Time To Use It Without Losing It For Some Flexible Spending Accounts
Due to COVID-19, the IRS has relaxed mid-year election changes for employer-provided health coverage and flexible spending accounts during 2020
The IRS recently relaxed the election change rules applicable to Internal Revenue Code Section 125 cafeteria plans (Section 125 Plans) for employer-sponsored health coverage, health flexible spending accounts and dependent care flexible spending accounts in IRS Notice 2020-29 (Notice).
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