Relief Provided From Flexible Spending Account “Use It or Lose It” Rule
By EsqSocial Corporation 08/01/21
As the last few days of the last plan year ending in 2020 come to a close, the Consolidated Appropriations Act, 2021 (the “Act”) makes a big change for all flexible spending accounts with a plan year ending in 2020 on or before December 31, 2020, to permit the unused amounts in such flexible spending accounts to carry over to the next plan year that ends in 2021. So if a calendar year health flexible spending account or dependent care flexible spending account had $800 remaining as of December...
By: Jackson Walker