Assurex Global Market Check Survey: Mid-Year Election Strategies

Due to the impact of COVID-19, the Internal Revenue Service has issued notice 2020-29. The intent of the notice is to allow employers
to provide additional flexibility in permitted mid-year election changes for benefits provided through a Section 125 cafeteria plan.

Many employers are attempting to determine which of these changes they would like to implement, as the various election changes are
optional.

We conducted a poll of employers during a webcast on May 21 and May 22, and combined the results in the chart below.

 

Based on 351 employer respondents; multiple answers were allowed.
May 21-22, 2020

FSA – Flexible Spending Account
DCAP – Dependent Care Assistance Program