Due to the American Rescue Plan Act (ARPA) of 2021 the IRS increased the Dependent Care FSA maximum from $5,000 to $10,500 for calendar year 2021. UNI has decided to adopt this provision for the 2021 plan year effective immediately.
You can still make changes to your election amount at any time in 2021. You can claim for expenses back to your coverage start date, as far back as January 1, 2021.
Example 1: If you enrolled with Open Enrollment then you can submit for expenses that occurred on or after January 1, 2021.
Example 2: If you newly enrolled March 1, 2021, you can submit for expenses that occurred on or after March 1.
You will still only be able to submit for claims up to the amount that you have accrued for your dependent care FSA.
For more information on the changes allowed for the flexible spending plans for calendar year 2021, please visit our webpage.