The Consolidated Appropriations Act of 2020 (CAA) was signed into law by President Trump on December 27, 2020. Among many other things, this law creates the option for employers to provide COVID-19 relief to both health and dependent care flexible spending arrangement account holders for 2021.
Many employers and employees hoped for this relief, since the past year has not exactly gone "according to plan." Due to the global pandemic, employees have postponed medical care and treatment, and many dependents have been unable to attend in-person school, leading to unexpected childcare needs. The uncertainty caused by COVID-19 makes it challenging for employees to make sound flexible spending account (FSA) election decisions.
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