A Qualifying Life Event (QLE) is a term used by the IRS in Section 125 of the tax code that allows an employee to change selections in their Flexible Spending Account (FSA) plan.
Qualified Life Events include:
- Birth or adoption of a child
- Putting a child up for adoption
- Changes in the number of dependents
- Changes in marital status, including divorce and death of a spouse
- Changes in the cost of a dependent's care or coverage. For example, a significant increase in day care costs for an employee's dependent
- Change in employment status of an employee, their spouse, or their dependent
Guide to Understanding QLEs - Nerdwallet.com
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