Flexible Spending Account (FSA)
Provisions for Calendar Year 2021
Provisions expire December 31, 2021
Health Care and Dependent Care Flexible Spending Provisions
On December 27, 2020 the President signed the COVID-19 Relief Bill passed by Congress, allowing UNI the opportunity to temporarily amend our flexible spending plans for the 2021 calendar year. The following two provisions impact Health Care FSA and Dependent Care FSA and will expire December 31, 2021.
Provision for 2020 Participants:
The deadline for individuals with remaining 2020 unused FSA funds has been extended to December 31, 2021, rather than March 15, 2021. This extension also allows 2020 participants to use their 2020 unused funds for 2021 claims. This provision expires December 31, 2021.
Provision for all Benefit Eligible Employees:
Between January 1 - December 31, 2021 you may elect, increase, decrease, or waive 2021 FSA contributions without a qualifying life event. Limitations do exist, please see below. This provision expires December 31, 2021.
IRS Significantly Increases 2021 Dependent Care FSA Maximum
Due to the American Rescue Plan Act of 2021 the bill states that the dependent care FSA maximum has been increased to $10,500 for 2021.
What youdo in 2021:
- You can decrease your 2021 election amount based on what you have left in your 2020 FSA.
- You can waive your 2021 plan.
- As situations arise, you can elect or increase your 2021 election amount at any time prior to when the December 2021 payroll is run.
- If you are currently not enrolled in a Health Care FSA or Dependent Care FSA plan, you can enroll at any time prior to when December 2021 payroll is run.
- Make any changes to your election prior to when December 2021 payroll is run.
- Submit for Dependent Care FSA claims starting back to the coverage start date of your plan, as early back as January 1, 2021. Please see dependent care FSA examples below.
- You cannot decrease your election below the amount you have already contributed, or the amount you have already been reimbursed for.
- You cannot waive the plan and continue to claim expenses that occurred after the date you waived.
- You cannot make any retroactive changes to already processed payroll contributions.
Making a FSA Enrollment Change
Please use the following life event for all changes to your FSA:
I am Making a Change to my Flexible Spending Account (FSA)
The date of your life event is the day you are submitting the change, or you may use the first day of a future month.
How to Make Changes to Your Benefits
UNI Employee Benefits Self-Service
Benefits Self-Service System is designed to help you enroll, make changes, and view your current benefit elections all in one location. For additional support, visit the Benefits Self-Service Help site.