What are the changes to the IRS Guidelines for the FlexBen products?

Employers offering health  FSAs  and dependent care  FSAs (DCAs) may allow (but are not required to allow) any remaining balances at the end of plan years ending in  2020  and  2021  to roll into the following plan year.

Employers offering health and  DCAs  may extend (but are not required to extend) grace periods for up to  12  months for plan years ending in 2020 and 2021.

Employers offering 2021 DCAs may increase (but are not required to increase) the annual maximum  to $10,500.

Employers offering  2021 DCAs  may allow (but are not required to allow) a one-time  election change without  qualified life event.

Employers offering health  FSAs  may allow (but are not required to allow) employees who terminate during  2020  or 2021  to spend down unspent balances through the end of the plan year. This is similar to what is already permitted for  DCAs.

Employers offering dependent care  FSAs  may extend (but are not required to extend) the age limit for qualifying children from  13  to  14  for a plan year for which open enrollment ended before January  31, 2020, and for any unspent funds from that plan year that are available (either by rollover or grace period) to the employee during the following plan year.