The IRS rules allow participants to change their deduction amount due to a daycare closing. If your daycare has closed and you wish to stop your dependent care deduction or change the amount, please notify Sandy Johnson.
Currently, the IRS does not allow an employee to change their coverage election for medical reimbursement due to the pandemic. The IRS does continue to allow an employee to change the amount if they have had a Qualifying Life Event. As a reminder, once the plan year ends on 06/30/2020, our Plan allows expenses incurred during a 2 1/2 month grace period (through 09/15/2020) to be reimbursed. If the IRS makes any changes to flexible spending plans as a result of the COVID-19 pandemic, we will provide an update to employees.