University of Portland is happy to announce some unique opportunities for Flexible Spending Accounts benefits this year per the Consolidated Appropriations Act which allows temporary changes to Section 125 cafeteria plans due to the COVID-19 pandemic:
- All Medical and Dependent Care FSA unused 2020 account balances will automatically rollover into 2021 accounts and will be amounts that are in addition to 2021 elections.
- Employees can elect up to $10,500 per household for Dependent Care Flexible Spending Accounts for the 2021 calendar year.
- We are allowing employees to submit new enrollments or change requests to 2021 FSA elections during the month of April to go into effect May 1, 2021. If you wish to enroll in an FSA plan please complete and submit the 2021 Flexible Spending Account (FSA) Enrollment.
- All out-of-pocket amounts paid by an individual taxpayer for COVID-19 PPE for use by the taxpayer, the taxpayer’s spouse, or the taxpayer’s dependents after January 1, 2020 are eligible to be reimbursed under health FSAs and HSAs.
If you have any questions please reach out to the HR benefits team at benefits@up.edu.