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NEW LEGISLATIVE PROVISIONS for 2020-2022

On December 27, 2020 the Consolidated Appropriations Act 2021 was passed and includes new and extended benefits for Healthcare FSA (HFSA - general and limited purpose) plans.  

Plan Options Now Available (view our Table of Provisions)

  • Unlimited Carryover: Plans without a grace period can offer Unlimited Carryover for plan years ending in 2020 and 2021.
  • Extended Grace Period:Plans without carryover can offer the 12-month Grace Period extension for plan years ending in 2020 and 2021.
  • Post-Termination Reimbursements: Participants who cease their participation in HFSA during calendar years 2020 or 2021 may still incur expenses and receive reimbursements from unused contributions through the end of the plan year in which participation ceased (including the grace period).
  • Unrestricted Midyear Election Changes: Plans can accept election changes from participants at any time without a change in status for plan years ending in 2021.
Learn about Dependent Care FSA provisions.

The Healthcare Flexible Spending Account (HFSA) provides significant savings to employees and employers alike. Employees set aside funds on a pretax basis to spend on qualifying healthcare expenses throughout the plan year. Employers save on payroll taxes for every dollar of employee participation, often enough to cover the plan’s cost.

Types of Healthcare FSAs


Why offer an FSA?

Employer Benefits
  • Reduce FICA payroll taxes on for every dollar of employee.
  • Save on taxes which often covers the cost of outsourcing plan administration.
  • Enhance the employee benefits package.
  • Float uniform coverage dollars.
  • Be assured of compliance wirh our Audit Guarantee.
 
  Employee Benefits
  • Reduce taxes with pretax payroll contributions.
  • Have immediate access to elected Healthcare FSA funds.
  • Access funds easily with the TASC Card.
  • Receive reimbursements quickly with MyCash.
  • Use Picture to Pay to submit a request quickly.
  • Check balances and submit requests with the TASC app.

For Sales: Call TASC at 1-888-595-2261 to learn more or email iwantTASC@tasconline.com.

Current FSA clients & participants: Please sign in or call 1-800-422-4661 for assistance.

View our Healthcare Accounts flyer to learn about our entire menu of healthcare accounts on Universal Benefit Account.

 

EDUCATIONAL PRESENTATIONS (updates coming soon)

 

FSA - SECTION 125 - FLEXIBLE SPENDING ACCOUNTS | | HSA - HEALTH SAVINGS ACCOUNTS | COBRA ADMINISTRATION | FMLA ADMINISTRATION | ERISA ADMINISTRATION |

Current FSA clients and participants: Please sign in to your account and select the "Support" tab to submit a Service Request, or call 1-800-422-4661 for assistance.