COVID Relief and Changes to your Flexible Spending Accounts
Effective immediately, new COVID relief legislation allows the following changes to be made to the health care and dependent day care Flexible Spending Accounts for plan years 2021 and 2022:
- The $500 cap on health care FSA carry over amounts for plan year 2020 has been removed and any unspent amounts—even in excess of $500—that remain credited to your 2020 health care FSA will automatically carry over to the 2021 plan year*
- For the first time, any unspent amounts that remain credited to your 2020 dependent day care FSA will automatically carry over to the 2021 plan year*
- If you are eligible to participate in a health care and/or dependent day care FSA in 2022, any unspent amounts that remain credited to your 2021 health care and/or dependent day care FSA will carry over to the 2022 plan year
- You may enroll in a 2021 health care and/or dependent day care FSA, or increase or decrease your existing election mid-year without a qualifying event. If you decrease your election, the amount cannot be less than the greater of: 1) the amount contributed to date from your paycheck, or 2) the amount of the eligible expenses that have been reimbursed to you (not including the amount of any carry over). The new annual election amount will be effective as of the date the change is made.
All health and dependent day care FSA claims and debit card verifications for the 2020 plan year should be submitted to HealthEquity, the FSA administrator, by March 31, 2021.
To make changes to your health care and/or dependent day care FSA, please contact the Northrop Grumman Benefits Center (NGBC) at 800-894-4194. Benefits Center representatives are available to assist you Monday through Friday (except for most New York Stock Exchange holidays) from 8:30 a.m. to midnight Eastern time. If you are calling from outside the United States, dial the AT&T out-of-country access number, then dial 800-894-4194. TTY service is available at 711.
* Carry over funds should be available to participants for eligible expenses retroactive to Jan. 1, 2021 no later than late April 2021.
This document constitutes a summary of material modification to the Northrop Grumman Health Plan. Northrop Grumman reserves the right to amend or terminate the Plan at any time.