Flexible Spending Account (FSA) Changes Due to COVID-19: Prior to this year, there were only specific life events that allowed you to make mid-year changes to your Flexible Spending Account (FSA). Due to COVID-19, the IRS has announced that they are providing more flexibility for those who have an FSA. These changes are: Employees can choose to increase or decrease their contribution amount to their FSAs and the FSA carryover (unused funds from the previous year) has been increased from $500 to $550