IRS Permitting Mid Year Changes to Medical Plans/HSA & FSA Contrinutions

by HuskerLiberal​

www.employmentlawworldview.com/irs-guidance-provides-employers-with-the-ability-to-offer-a-second-open-enrollment-period-for-the-2020-plan-year-and-provides-greater-flexibility-for-making-mid-year-cafeteria-plan-elections-us/

Just like the 401k and student loan reimbursement provisions in the CARES ACT, employers coho choose to participate have the ability to offer unprecedented mid-year changes to medical plans and contributions.

My company’s executive leadership team has yet to agree to this… in part because of the logistical issues of processing changes just ahead of Open Enrollment for 2021.

Have any of you had employers who opted in? Do your employers even know these special provisions are out there? I already suspended my 401k loan repayments, but we did not opt in to the student loan payment reimbursement.

I feel like many of these programs go unnoticed and employees miss out. I would encourage you to ask your HR/Benefits Team if anyone of these employee friendly programs are being offered or considered.