WASHINGTON – Arizona senior Senator Kyrsten Sinema introduced the Fair FSAs Act of 2020—legislation that provides much needed flexibility to workers with Flexible Spending Accounts (FSAs) during the COVID-19 pandemic.
“Making FSAs more flexible helps Arizona families cover unexpected health care costs, and ensures Arizona workers have access to their own money during the current economic and public health crisis,” said Sinema.
Sinema’s Fair FSAs Act of 2020 allows workers enrolled in FSAs to access the money they set aside in their FSA whenever they leave a job or their COBRA coverage expires, rather than being forced to forfeit remaining funds. This step guarantees that newly unemployed workers have a financial cushion to afford unexpected health care expenses and continue their health care coverage. Additionally, Sinema’s bill allows workers to roll over existing FSA balances to the next year plan, if they have to cancel or delay medical procedures due to concerns around COVID-19.
Ever since her time serving in the U.S. House, Sinema has advocated for allowing Arizonans greater flexibility when it comes to utilizing their FSAs. Sinema has been an original cosponsor of the RAISE Health Benefits Act – bipartisan legislation that increases the contribution threshold for FSAs and allows benefits to roll over – every year since it was introduced in the U.S. House and now in the U.S. Senate.
The Fair FSAs Act of 2020 aligns with Sinema’s work in Congress to ensure workers receive the FSA benefits they have paid into, and help Arizonans afford unexpected health care expenses as a result of the COVID-19 outbreak.
