Rich May (Massachusetts): IRS Allows Midyear Changes to Health Coverage and Dependent Care Accounts in Response to COVID-19 Disruptions

In response to the coronavirus pandemic (COVID-19) the IRS has issued Notice 2020-29. This notice alters the normal rules of a Section 125 cafeteria plan. It provides flexibility with respect to mid-year elections to various “flexible” spending account plans for healthcare or childcare expenses. MORE.

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