IRS issues changes that affect Flexible Spending Account (FSA) elections
Due to the impact of COVID-19, participants may change their Health Care FSA and Dependent Care FSA elections for the rest of the 2020 plan year without needing to provide a reason to do so. Options include revoking an election so that no further salary reduction contributions will be required, changing the annual election amount and making a new election when none was made during open enrollment.
