The IRS has increased the allowable carryover limit in 2020 to $550 for unused amounts remaining at the end of the plan year for health care FSAs. The Lawrence University flexible spending plan has adopted this change. At the end of the 2020 plan year, December 31, 2020, health care flexible spending accounts will be able to rollover $550, an increase from the previous maximum of $500. The Summary Plan Description has been updated to reflect this change and a Summary of Material Modification can also be found online. This change will happen automatically and no action is required. Please contact your Human Resources Representative with any questions.