cafeteria plan elections
Posted May 14th, 2020 in Employers, Producers, Individuals
The Internal Revenue Service (IRS) recently released Notice 2020-29 and Notice 2020-33 which provide substantial changes to Cafeteria Plans, Health Flexible Spending Accounts (Health FSAs) and Dependent Care Assistance Programs (commonly referred to as Dependent Care FSAs).
This month’s Ask the Expert question comes from Jan in Alabama. Jan asks:
Is it mandatory that each employee meet with the insurance agent to elect or waive benefits offered through a Cafeteria Plan?
It is definitely not mandatory that each employee meet with the insurance agent in order to elect or waive coverage in the plan. There are, however, some best practices that employers can put in place when it comes to enrollment in the plan.
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