Due to COVID-19, the IRS has permitted employers to provide employees an opportunity to change flexible spending account (FSA) elections made for the current plan year.

Drake University has chosen to amend its FSA plans to allow full-time employees to make prospective mid-year Health Care and/or Dependent Care election changes, effective immediately.  All election changes must be made during the 2020 calendar year.

Adoption of the Temporary FSA Plan Amendment permits you to:

• Elect to participate in Drake’s Health Care and/or Dependent Care FSA plans—even if you have previously waived the benefit.
• Terminate your current participation in Drake’s Health Care and/or Dependent Care FSA plans.
• Increase or decrease your current Health Care and/or Dependent Care elections.

It is important to note elections can only be changed going forward.  Election changes cannot be made retroactively.  In other words, you cannot get a refund for benefits you have already received or amounts you have already contributed.

To make changes to your current FSA participation, please complete and return the Mid-year FSA Change Form to drakehr@drake.edu

The Temporary FSA Plan Amendment and  Mid-year FSA Change Form are posted in the Human Resources app on myDrake.  Should you have questions regarding your benefits, please contact Marlene Heuertz at 515-271-1901 or marlene.heuertz@drake.edu.

— Marlene Heuertz, Human Resources