New Stimulus Bill Fsa

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New stimulus bill fsa. Senate and house of representatives on december 21 2020 gives flexible spending account fsa plans the ability to make temporary plan design changes to give employees more control over their fsa benefits. Three of the issues addressed by these provisions have been the subject of intense recent interest. Posted on december 29th 2020.

This is the first time carryover has been available for dependent care fsas. The stimulus bill consolidated appropriations act of 2021 passed by the u s. The legislation is aimed at helping americans cope with challenges from the pandemic.

As 2020 came to a close president trump signed a far reaching 900 billion stimulus bill aimed at providing economic relief for those affected most by the pandemic. Unrestricted carryover employers can change their health and dependent care fsas to allow carryover of all unused amounts from 2020 to 2021 and from 2021 to 2022. Fsa changes from the stimulus bill.

On december 21 2020 congress passed a covid 19 stimulus bill bill which contains significant changes to health flexible spending arrangements fsas and dependent care dc fsa rules for the 2020 and 2021 plan years. Health fsa and dcap carryover rules approved for 2021 on monday december 21 congress passed a new 900 billion covid stimulus bill known as the consolidated appropriations act 2021. Among those other things are temporary and.

Under normal circumstances the. December 31 2020 print. Stimulus package provides new fsa options.

The bill was signed into law on december 27 2020. Section 214 of the bill entitled temporary special rules for health and dependent care flexible spending arrangements temporary rule permits employers to make.