Benefits Bulletin – IRS Provides Temporary Flexibility for Cafeteria Plans, Health FSAs, and DCAPs

On May 12, 2020, the IRS released Notice 2020-29, which provides temporary flexibility for mid-year election changes under a Section 125, more options with respect to unused amounts in health flexible spending accounts (FSAs) and dependent care assistance programs (DCAPs), and clarifications regarding high-deductible health plans (HDHPs). This Benefits Bulletin summarizes the new IRS Notice