Plan sponsors now have the option of expanding mid-year election change opportunities, carry-overs and grace periods. When reviewing the options, keep in mind that any change made to your cafeteria plan requires an amendment. Details about the new, temporary rules are provided by our partners at Benefit Advisors Network (BAN). Click here for the document from BAN.
Our COVID-19 blog includes two older posts about dependent care accounts and opportunities for participants to either suspend or alter their contributions. Those posts, located here and here, are still valid for employers who decide not to implement the temporary, expanded mid-year contribution rules described above.