GIC/Benefits Strategies Flexible Spending Accounts Qualifying Event

Monday, March 30, 2020

Dependent Care Assistance Plan (DCAP)

The Commonwealth of Massachusetts has given direction to close all daycare businesses in order to slow the spread of COVID-19. As a result the MA Group Insurance Commission (GIC) has instructed their DCAP administrator, Benefits Strategies, to allow participants to prospectively cancel their current plan-year DCAP enrollment. Please consider the following important information before electing to cancel your DCAP enrollment:

  • Participants are being allowed to cancel, not reduce, their current plan year enrollment.
  • Participants who cancel DCAP enrollment may re-enroll during open enrollment (April 6 – June 1, 2020) for expenses incurred on or after July 1, 2020 but not prior.
  • Funds withheld to date can still be spent on child care expenses incurred through September 15, 2020 so long as reimbursement requests are received by Benefits Strategies by October 15, 2020.

Please note that Benefits Strategies can approve prospective (not retroactive) cancellations and cannot directly reimburse participants directly for funds that have been withheld.

If you wish to cancel your current plan-year DCAP enrollment:

  1. Navigate online to www.benstrat.com/gic-fsa
  2. Scroll down and select “Change in Status – Enroll Mid-Year of Make Changes to Existing FSA Accounts”
  3. Click on “Status Change Request”
  4. Complete the corresponding online form using the current date as the “Date of Qualifying Event”
  5. Select the qualifying event: “(DCAP only) Change of provider”
  6. Select DCAP Changes: “Cancel my DCAP”  -- note, Benefits Strategies cannot approve “Change my DCAP” requests.
  7. You must digitally sign and submit the cancellation in order for your request to be considered.

 

Health Care Spending Account (HCSA)

The MA Group Insurance Commission (GIC) and their HCSA plan administrator, Benefits Strategies, are evaluating if the current situation provides a qualifying event for individuals to enroll or change their current plan year enrollment.