Use this one-time special enrollment period to make changes or to increase, decrease or cancel your current Healthcare or Dependent Care FSA (you will still be responsible for contributing funds for any expenses already used).
You can also enroll in a Healthcare or Dependent Care FSA effective May 1, 2021 for the remainder of the year. Your deductions will be re-calculated based on your new election. This enrollment will be open from April 15 through April 30, 2021.
Unlimited Carry-Over from the 2020 Plan Year to the 2021 Plan Year
All unused amounts in a Healthcare Flexible Spending Account (HCFSA) and Dependent Care Flexible Spending Account (DCFSA) may be carried over from the 2020 plan year to the 2021 plan year. Employees should expect to see the carryover funds in their 2021 accounts effective April 15, 2021.
Extended Grace Period to Submit Reimbursements
The grace period for Healthcare FSA and Dependent Care FSA for the plan year ending in 2020 or 2021 for the plan year ending in 2020 or 2021 has been extended to 12 months. Employees have until December 31, 2021 to submit reimbursements for expenses incurred in the 2020 plan year.
Carry Forward for Aged-Out Dependents in Dependent Care FSA
The Consolidated Appropriation Act (CAA) 2021 provides an extra year for children who "aged out" during the pandemic. Employees can use Dependent Care FSA amounts for children until they turn age 14, at least through the end of the 2021 plan year.
To Enroll, Increase, Decrease or Cancel
Visit www.wageworks.com or call 877-924-3967.
On the other hand, retirees can elect medical and dental coverage together, or just medical coverage.