On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA). The legislation goes into effect April 1, 2021 and contains provisions for an increase to the annual Dependent Care FSA contribution limit for 2021.
On December 27, President Trump signed the Consolidated Appropriations Act, 2021(CAA), which includes $900 billion of COVID relief measures. Below we highlight the legislation included in this bill that affects Cafeteria Plans.
As we approach the end of the year, we have a couple of changes and reminders to share with you: 2020 Health FSA Inflation Adjustments, HIPAA Release Form Requirement, 2020 Open Enrollment Elections, and Year-End Balances.
The voluntary employee salary reduction for contributions to a Health FSA increases to $2,750 from $2,700.
The voluntary employee salary reduction for contributions to a Health FSA increases to $2,700 from $2,650.
As your Cafeteria Plan administrator, GGA would like to share a few key points to remember when submitting your FSA and/or DCA claims.