Flexibility for Flexible Spending Accounts in Light of COVID-19

Acknowledging the widespread impact of the COVID-19 pandemic, the US IRS and Treasury Department have issued notices granting much-sought flexibility for health and dependent care flexible spending accounts and health plans.  The relief includes permission for plan sponsors to amend their Section 125 cafeteria plans to allow employees to make prospective changes to their elections, whether or not those employees are affected by the COVID-19 pandemic.

Read more about these actions in a post on Mayer Brown’s Benefits & Compensation Blog.

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