IRS Okays Mid-Year Changes to Health, FSA and Dependent Care Elections
To assist with the nation’s response to COVID-19, the IRS recently announced increased flexibility during calendar year 2020 for employers to allow new types of mid-year election changes under Section 125 “cafeteria” plans and extend claims reimbursement periods for Flexible Spending Arrangements. Under IRS Notice 2020-29, employers can amend their Section 125 plan documents to …
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