Consolidated Appropriations Act of 2021: Key Takeaways for Administrators
Published on January 28th, 2021
On Sunday, December 27 the Consolidated Appropriations Act, 2021 was signed into law. The bill contains nearly $1 trillion in COVID-related relief, including temporary relief for several consumer directed, pre-tax benefit account types.
As a result, employers will have the opportunity to review their plan designs and consider adopting certain provisions to provide additional assistance to their employees, including carryover and grace periods for Health FSAs and DCFSA’s, a special carry forward rule for dependent care FSA, prospective changes in elections, plan changes and more.
Foulston Siefkin’s Jason Lacey and Alegeus’ Brian Colburn take a closer look at pertinent components of the Consolidated Appropriations Act 2021 and explore potential impacts and takeaways for consumers, employers, and administrators.
Watch a replay of this webinar to gain a better understanding of what this means for your business.