IRS Provides COVID-Related Cafeteria Plan Relief

Employers and advisors have been seeking cafeteria plan relief in connection with the COVID-19 outbreak and will appreciate being able to offer additional flexibility to employees.

In response to the 2019 novel coronavirus (COVID-19) outbreak, the IRS has issued a notice allowing cafeteria plans to permit certain prospective midyear election changes. The notice also allows cafeteria plans to provide an extended period for using amounts remaining in a health FSA or DCAP to pay or reimburse medical or dependent care expenses

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