Mid-Year Changes to Healthcare FSA and Dependent Day Care Accounts
Flexibility has been added to Healthcare FSAs and Dependent Day Care Accounts in response to the COVID-19 pandemic. For Healthcare FSAs, the annual carryover limit has been increased to $1,000 (from $550) from plan year 2020 to plan year 2021. In addition, a number of changes are in effect for Dependent Day Care accounts, including an increase in the age limit for qualifying dependent children, an added annual carryover limit, and an increase in the annual contribution limit. There is also a one-time opportunity to increase one’s annual contribution to a Dependent Day Care account without a qualifying life event outside of Annual Benefits Enrollment in the fall. The deadline to submit a completed form is June 30. For questions about your FSA account, contact Optum Financial / ConnectYourCare at 833-881-8158. For questions on your FSA payroll deductions or on submitting a Dependent Day Care change form, contact your local HR department.