Will FSAFEDS implement the higher dependent care FSA cap this year?

[Anonymous]

What do you guys thing? The new relief bill allows programs up up the dependent care limit to 10,500 instead of 5000. But it is at the program's discretion.

[Anonymous]

We have the opposite problem at least for this past year. We budgeted 5 k but with everything shut down starting last march, we didn't use very much money for aftercare and camp.

[Anonymous]

Anonymous wrote:We have the opposite problem at least for this past year. We budgeted 5 k but with everything shut down starting last march, we didn't use very much money for aftercare and camp.

I was wondering about this, too. We have money going to waste from the 2020 DCFSA. My understanding is that there's all kinds of leeway in the end of year coronavirus legislation, but from what I can gather, OPM is still thinking on it. I turned off payments in June, but as it was for camp and I hadn't used any, there's still a bunch there.

[Anonymous]

I asked on the FSAFEDS website and they sent me boilerplate about QLEs. LOL. so I put in a question to HR. hopefully they get the message.

[Anonymous]

I asked on fsafeds website too and it was the same QLE stuff that didn’t answer or even come close to answering my question. My HR said they’d look into it. I’m not holding out hope. If my husband’s company makes the change, he’ll do it so we will add up to $10,500 total.

[Anonymous]

We've already spent 10k this year, so I'd really like to put more money in. When is it coming out?!

[Anonymous]

Increasing it to 10k is totally optional for the employer. My agency's HR has said nothing. Any agencies that got it? I wonder if this will be an agency by agency thing or all feds thing.

[Anonymous]

I have no idea this was happening. I need to read up on this for sure!

[Anonymous]

I found this on their Facebook page a month ago:

"Communications regarding the Consolidated Appropriations Act and American Rescue Act changes will be going out to participants in the coming weeks"

https://www.facebook.com/fsafeds/photos/a.285048488797/10159011999783798/?comment_id=10159013950388798&__cft__[0]=AZWx7MYRs9zZVSustUOsq34sFcTETp2SuqxYfCQM4CHzBOmh38R01EKKwceBlC6NchHz3MDohM_bgc6FDKFT-Qc-s66gOKpP8iD0CC5dottn3TJbn7BvKr83bjHOO2Zxab4lECcNxIBC-uRkiBplicoTAv56P9x4wNcW3rPO2G0IJg&__tn__=R]-R

[Anonymous]

Whoops: https://www.facebook.com/fsafeds/photos/a.285048488797/10159011999783798/?comment_id=10159013950388798

[Anonymous]

Anonymous wrote:Whoops: https://www.facebook.com/fsafeds/photos/a.285048488797/10159011999783798/?comment_id=10159013950388798

Thanks for posting the FB link. It would be nice if they were more proactive about telegraphing their plans or at least that they are considering the legislation.

[Anonymous]

I called FSAFEDs about this and they mentioned about not receiving any guidance from OPM. All the agencies would follow the same guidance.

[Anonymous]

"In addition, OPM said it is working with the FSAFEDS provider to conduct a “special enrollment period” to allow those not enrolled in the program for this year to join it and to allow current enrollees to either increase or decrease current elections for either dependent care or health care accounts. That will include allowing an increase in the latter type of account to a new maximum of $10,500, it said."

https://www.fedweek.com/fedweek/more-flexibility-coming-to-flexible-spending-accounts-opm-says/

[Anonymous]

Anonymous wrote:"In addition, OPM said it is working with the FSAFEDS provider to conduct a “special enrollment period” to allow those not enrolled in the program for this year to join it and to allow current enrollees to either increase or decrease current elections for either dependent care or health care accounts. That will include allowing an increase in the latter type of account to a new maximum of $10,500, it said."

https://www.fedweek.com/fedweek/more-flexibility-coming-to-flexible-spending-accounts-opm-says/

Thank you for posting this!