Since medical spending is greatly reduced this year due to the pandemic, are we able to stop our contributions to our FSAs?
The Coronavirus pandemic has affected all areas of healthcare, including Spending Accounts.
Due to the Coronavirus, effective May 12, 2020, the IRS released a change notice which applies to medical, Flexible Spending Accounts (FSA) and dependent care benefits.
That is, "members can change their election amounts, however members cannot reduce election to the point that the member gets a refund "
For .further information on making this change, please contact your employer's Human Resources Department.
I checked with HR4U and they said this only applies to dependent care FSAs, not medical FSAs. Can you confirm either way?
I originally responded to you based on our Spending account reference documents.
However, it is up to the employer to make the final decision. I apologize, but if Human Resources does not agree with this information, we cannot override that.
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