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the word Compliance printed on a photo of a skyscraper Organizations need to make thoughtful decisions as to which regulatory changes available for their plans are worthy of consideration, especially as employers approach open enrollment season.(Photo: Shutterstock)

Since the December 2020 announcement of the Consolidated Appropriations Act (CAA), Congress and the Internal Revenue Service (IRS) have made several regulatory changes to address the continued impact of the COVID-19 pandemic. These changes, many of which impact flexible spending accounts, are not mandatory. This means spending account administrators needed to decide which changes they could support. Organizations need to make thoughtful decisions as to which regulatory changes available for their plans are worthy of consideration, especially as employers approach open enrollment season.

Related: Navigating today’s benefits compliance landscape

 

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