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.
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.
Between January 1 - December 31, 2021 you may elect, increase, decrease, or waive 2021 FSA contributions without a qualifying life event. No retroactive changes are allowed. This provision expires December 31, 2021.
Those who participate in the Dependent Care Flexible Spending Account can elect a maximum of $10,500 to claim for the 2021 calendar year.
Limitations do exist, for more information and examples visit our 2021 FSA Plan Updates webpage.