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Shopping cart with medications Employers can suspend the “use it or lose it” provision and are allowed extra discretion in 2021 and 2022 to adjust their programs.

Employers can suspend the “use it or lose it” provision in health care and dependent care Flexible Spending Accounts for two years under guidance issued by the IRS on Thursday.

“This is welcome news for millions of employees who may be faced with additional health care and dependent care expenses as a result of the pandemic,” said David Speier, managing director, benefits accounts, at Willis Towers Watson. “The guidance gives employees more time to use their contributions to pay for out-of-pocket health and dependent care costs they may have incurred during the pandemic.”

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