FSA rate recalculating when 2 life events have same rate start date
in Benefits
Summary:
My client is using standard functionality for Health Care FSA rate setup (calculation method = set annual rate equal to coverage' and 'use estimate only' on expected contributions on Annual Rates tab).
Example 1: An employee enrolls for Health Care FSA during Open for covg amount of $2,400. Paydates are semi-monthly so rate is calculating at $100/per pay period as expected. Employee has a mid-year QLE (doesn't make change to FSA), rate stays at $100. So this example is fine.
Example 2: Same as above--elects $2,400 during Open, $100/per pay period. BUT, if the employee has two life events during a month (i.e., salary change--4/4 occurred date and dependent loses coverage--4/8 occurred date--no changes to FSA)
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