The federal government has now provided employers with additional relaxations affecting tax preferred, Flexible Spending Accounts (FSAs), in light of the Coronavirus pandemic. These relaxations come about as a result of the passage into law of the Consolidated Appropriations Act, 2021. It’s important to note that these FSA changes are not mandatory either in total or individually. Employers may opt to amend their FSA plans to allow any or all of these provisions, but are not compelled to do so.
At present (December, 2020) there are several Covid-19 vaccines in various stages of obtaining approval. In particular, 2 are likely to hit the U.S. healthcare system in December of this year, from pharmaceutical manufacturers – Pfizer and Moderna – through a process referred to as “emergency use authorization”, or EUA. The U.S. Food and Drug Administration (FDA) can approve use of vaccines that have made their way through successful clinical trials, for emergency use, before the drugs are authorized for dispensing to the general public. This blog post addresses some of the pertinent questions relating to the Covid-19 vaccine, such as “who, how, when, why”…
