With many day care centers, after school programs, and other children’s educational activities being canceled due to the COVID-19 pandemic, may individuals with Dependent Care Flexible Spending Elections are finding that they will not be able to spend their entire 2020 election amounts.
There’s good news: a change in the cost of childcare is a qualifying event allowing participants to change their annual election amounts. While participants’ annual elections cannot be lowered beneath what has already been collected via payroll deductions, they may decide to stop any additional deductions for the year.
For additional information, please visit WageWorks, or the HR Portal COVID-19 benefits page. If you would like to change your election for 2020, please contact Viktoria Rill in Human Resources at firstname.lastname@example.org.