Covid-19: Impact On Dependent Care FSAs

Tips from Pops

Before you get to the good stuff…

Now that YMTT is back up and running, I’ll be featuring — from time to time — some Tips from Pops posts. For those who are already fans, you know the very beneficial information and insights passed along in these articles — information that can help keep you “in the know” and primed to be financially secure, today and tomorrow. 

My Pop also has his own blog, called WynnSights, where you can find this post and so many more. Run, don’t walk to get signed up for that one. It’s free, time-tested tips from someone who has made a good life from his unique approach to planning, investing and saving so you can live your best life.

IRS Eases FSA Rules

To provide flexibility for employees coping with the Covid-19 virus, the IRS has issued new guidelines that permit employers to amend FSAs, allowing workers to adjust dependent care plan contributions – including dropping future contributions altogether.

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Eliminate the guilt. You’re doing your best.

Random Musings

God, it’s such a weird time, isn’t it? Most of the world is under a ‘stay at home’ order. Normal routines have been tossed to the wind — in a mandated sort of way. And we’re all left feeling a bit — I don’t know — out of sorts. 

For the first time in (who knows) decades, maybe far longer, we’re in something together. We have a common purpose. Preserving life is taking precedence. It doesn’t mean we aren’t concerned about our livelihoods, the world economy, how to pay the bills. We are. But it’s #2 on the list. Maybe further down. Our common enemy, COVID-19, is tearing through our cities and countries, like an invisible wave. It lurks around corners and hides in unknown places. In some cases, it finds us. Or it finds a loved one. At its worst, it takes someone from us. In the blink of an eye, EVERYTHING has changed.

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