Swap Money between Medical and Dependent Care

[Guest Ann]

If during a plan year a participant has a change in circumstances and finds the dependent care allocation is too much and medical is too little, can money be swapped between these two categories without a trigger event?

If not, is there any congressional bill in process which would allow a mid-year change in allocations without a trigger event?

[Guest nb]

I would take a hard look at the "change in circumstances" that is creating a need to change. That would be your best bet in finding a status change that would allow a change in election. Baring that, you can't swap money from one allocation to the other.

I'm not aware of any legislation that would allow additional family status changes.

[SLuskin]

The IRS views each flexible spending account election as an entirely independent election. There is no such thing as midyear mix and match in a Cafeteria Plan