PY20 spending deadline extended
The Internal Revenue Service (IRS) has extended the spending window for PY20 FSAs through December 31, 2020. That means TexFlexSM participants have until the end of the calendar year to use their PY20 FSA funds to pay for eligible health care, limited-purpose or dependent care expenses.
PY20 claims submission deadline
As in past years, participants have until December 31, 2020, to submit their claims paperwork for money spent on eligible health care, limited-purpose or dependent care expenses. If they miss this deadline to submit claims, they may forfeit at least some funds they contributed to their FSA in PY20.
You can learn more by reviewing TexFlex updates due to COVID-19. You can also read an informative article about PY20 TexFlex deadlines.
Source: ERS News About Your Benefits (December 2020)
Categories: Benefits, News, Personal Finance, Wellness