IRS Relaxes Section 125 Election Change Rules, Expands Grace Periods and Carryovers
… due to unforeseeable changes in the need for or availability of medical care, and so wish to increase or decrease amounts in their health FSAs. Some employees similarly may have increased or decreased dependent care assistance needs due to unanticipated school and child care provider closures or changes to work location or schedule. Unfortunately the limited exceptions in existing relevant election change regulations may not apply to requested health coverage, HFSA, and DCAP election changes for these reasons. The Notice allows an employer to amend its cafeteria plan (including limiting the period during which election changes may be made) to …
https://www.epicbrokers.com/insights/irs-relaxes-section-125-election-change-rules/