Great news! The 2021 Consolidated Appropriations Act (CAA) includes legislation that will help reduce your employees’ financial hardship when they participate in a Flexible Spending Account plan.
The following provisions are available on a temporary basis for Healthcare FSA (HFSA) and/or Dependent Care FSA (DCFSA) plans that end in 2020 and/or 2021:
- Unlimited Carryover (HFSA & DCFSA)
- Extended Grace Period to 12 months (HFSA & DCFSA)
- Unrestricted Midyear Election Changes (HFSA & DCFSA)
- Post-Termination Reimbursements (HFSA)
- Dependent Age Limit Increased to age 14 (DCFSA)
Existing TASC FSA clients received an email from TASC this month announcing our response to this legislation and how it will impact their plan(s). If you are a current FSA client at TASC and did not receive the email, please check all your inboxes or call us at 1-800-422-4661 to speak with a Customer Care Specialist.
If you don’t already have an FSA plan at TASC, it’s a great time to get started so your employees can take advantage of this temporary relief during these challenging times. We are ready to set it up to include all the provisions, whether it’s a new plan or a midyear takeover. And with Universal Benefit Account® you and your participating employees receive all the innovative features and tools to easily access funds and manage your benefits.
To open an FSA at TASC, please call 1-888-595-2261 to speak to a Sales Specialist.
