Compensation and Benefits - EBS (MOSC)

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FSA amount changes middle of year

edited Mar 28, 2017 5:05AM in Compensation and Benefits - EBS (MOSC) 1 commentAnswered

What is the best way to enter FSA amount changes in the middle of year:

Example: Our company allows life events to change FSA amounts....say employee originally from Jan 1 2016 elected to have 1500 in FSA, but during a life event dated 29-AUG employee elects to increase FSA amount to 2000. What should be the entry in OAB?

Should the entry be 29-AUG-2016 = total new amount requested of $2000 or

should the entry be 29-AUG-2016 = 500 difference (1500 originally -2000 new requested = 500)?

What is the best practice for this type of scenario? Any help is greatly appreciated.

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