Flexible Spending Account Updates for 2020 and 2021 FSA plan years
In response to the COVID-19 pandemic the State has adopted temporary changes to the Health Flexible Spending Accounts and Dependent Care Flexible Spending Account (FSA) plans and extended the grace periods for the 2020 and 2021 FSA plan years. A grace period gives you additional time to incur eligible FSA expenses and use your funds. All FSA participants should have received an email from the P&A Group who administers the plans
In summary, the State of Maryland will:
1. Temporarily extend the Grace Period for Healthcare FSA and Dependent Care FSA until 12 months after the plan end date.
a. Your 2020 FSA is extended to December 31, 2021
b. Your 2021 FSA is extended to December 31, 2022
2. Temporarily extend the run-out period for the 2020 and 2021 plan years. (Your run-out period is the period of time after a plan ends when you can submit claims for expenses incurred during the plan year. Because the grace period is temporarily extended, the run-out period will also be temporarily altered.)
a. Your 2020 run-out period is extended to April 15, 2022
b. Your 2021 run-out period is extended to April 15, 2023
Click here for more detailed information.
Contact the HR Total Rewards team with any questions:
Jen Morrow, Total Rewards Specialist
Yore Awodipe, Sr. Benefits Specialist
Tags: Faculty and Staff, Office of Human ResourcesCategorised in: General
This post was written by Morrow, Jennifer G.