Use It, but Don’t Lose It: New Stimulus Law Extends Time to Spend Down 2020 Health FSA and Dependent Care Balances
By EsqSocial Corporation 13/01/21
Employers will now have additional options to address participants’ unspent contributions to dependent care or health flexible spending accounts (FSAs) resulting from the COVID-19 pandemic. The Consolidated Appropriations Act, 2021 (H.R. 133, P.L. 116-260), signed into law on December 27, 2020, provides temporary relief for employees that were unable to spend down their dependent care and health FSAs by the end of the plan year and may otherwise forfeit these contributions....
By: Ogletree, Deakins, Nash, Smoak & Stewart,