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jonathanbingham
New Member

Does the new Coronavirus Relief Package include any change to FSA? Like leftover dollars over $500 transferring to 2021?

(One article I read said it did, but I read through the summary of the legislation and didn't find anything about it.)
4 Replies
Critter-3
Level 15

Does the new Coronavirus Relief Package include any change to FSA? Like leftover dollars over $500 transferring to 2021?

rjs
Level 15
Level 15

Does the new Coronavirus Relief Package include any change to FSA? Like leftover dollars over $500 transferring to 2021?

In the article that Critter-3 referenced, note that what you can do with unused money in your FSA depends on what your employer's specific plan allows. The new law gives employers more flexibility in what they can allow, but each plan sets its own rules and limits, within the framework of what the law allows.

 

jonathanbingham
New Member

Does the new Coronavirus Relief Package include any change to FSA? Like leftover dollars over $500 transferring to 2021?

Thank you both.

 

My company is closed until January 5, so any decision they may make about modifying the rules will be too late for me to benefit.

 

I've never gotten to this point in the year with money at risk of being lost before.  But when I made my elections in late 2019 I had no idea the rona was going to impact our planned expenses.  It would be nice to be able to be able to roll it into 2021.  But given the uncertainty, I'll have to spend it on something unnecessary, which I hate to do.

 

But I'm grateful to be employed.  This is a small problem.

NCperson
Level 15

Does the new Coronavirus Relief Package include any change to FSA? Like leftover dollars over $500 transferring to 2021?

@jonathanbingham - I understand your predicament, but since this is a benefit to employees and effectively 'free' to employers, I suspect most companies will adopt it. 

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