Varnum (Michigan): COVID-19 Related Modifications to Cafeteria Plans and Flexible Spending Accounts

In response to the COVID-19 pandemic, the IRS has issued two notices that allow employers to provide some relief to cafeteria plan participants. Together, Notice 2020-20 and Notice 2020-29 allow cafeteria plans to permit prospective midyear election changes for any reason during calendar year 2020 and to provide an extended period for employees to incur eligible expenses for reimbursement under flexible spending accounts. MORE.

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