To assist with the nation's response to the Coronavirus outbreak, IRS Notice 2020-29 provides for increased flexibility with respect to mid-year election changes during calendar year 2020 related to Health Flexible Spending Arrangements ("FSAs") and Dependent Care Assistance Programs ("DCAs"). This notice also provides increased flexibility with respect to grace periods to apply unused amounts in health FSAs and Dependent Care Assistance Programs incurred through December 31, 2020. The IRS also released Notice 2020-33 which increased the $500 carryover amount for health FSAs.
OCA will be hosting a webinar on Wednesday, May 20th, at 2:00 PM to do a deep dive into the newly released IRS Notice 2020-29 and IRS Notice 2020-33. We will also discuss the operation impact it will have on employers, plan participants, and OCA. The webinar will be conducted by OCA and its legal & compliance expert, Ashley Gillihan, ESQ. of Alston & Bird, LLP.
(This webinar is hosted by OCA, not EANJ)