Dear GIC FSA Coordinators,
We would like to share a few important announcements that will impact how the HCSA/DCAP plans will be administered. In response to the ongoing COVID-19 pandemic, the IRS recently released the Consolidated Appropriations Act with updated guidelines for sponsors of Flexible Spending Accounts. The new guidelines allow the GIC’s enrolled participants greater flexibility and opportunity to use all or most of their funds that were contributed.
The GIC will be making the following changes to the FSA plans for FY2020 (07/01/19-06/30/20) and FY2021(07/01/20-06/30/21):