MEMBERS COVERED UNDER THE RAILROAD EMPLOYEES NATIONAL HEALTH AND WELFARE PLAN (GA-23000)
Change to the Flexible Spending account
This is to make you aware of a change involving the Railroad Employees National Health and Welfare Plan Flexible Spending Account.
As a result of the COVID-19 crisis and the lack of access to physicians or to seek elective medical treatments, the IRS put out guidance that grants employers the ability to allow employees to reduce or suspend contributions for the remainder of the 2020 plan year.
Further, guidance now allows reimbursable expenses to include over-the-counter drugs without a prescription and menstrual care products.
An agreement was reached between labor and management whereby management has agreed to allow employees who contribute to the Railroad Employees National Health Flexible Spending Account Plan (the “FSA Plan”) a one-time election during the period July 1 to December 31, 2020 to change their annual FSA Plan contribution for the 2020 FSA Plan year.
Click here to read the Summary of Material Modifications that will be mailed to members by United Healthcare. Please post this to make your members aware of the change to their FSA contributions for this year.
If you or your members have any questions, please contact TCU/IAM Social Services Department at 301-840-8746.
The post Change to the Flexible Spending Account for Members Covered Under (GA-23000) appeared first on IAMAW .