A bill to amend the Internal Revenue Code of 1986 to require employers to cash out the flexible spending accounts of employees who separate from employment, and for other purposes.
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Committee
Latest Action · July 30, 2020
Read twice and referred to the Committee on Finance.
Fair FSAs Act of 2020
This bill requires employers to allow employees who separate from employment to elect to receive a distribution from their health flexible spending arrangement. It also allows employees to roll over existing balances attributable to a reduction in expected elective health care expenses in the plan year due to the outbreak of COVID-19 (i.e., coronavirus disease 2019).
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