the remaining portion of a period of coverage within the applicable period— (1) an election modifying the amount of such employee’s contributions to such a health flexible spending arrangement (without regard to any change in status), or (2) an election modifying the amount of such employee’s elective paid time off. Any election as modified under paragraph (1) shall not exceed the limitation applicable under section 125(i) for the taxable year. (b) One-Time application Paragraphs (1) and (2) of subsection (a) shall each apply to only 1 election change described in such paragraph with respect to an employee (in addition to any other election changes during a period of coverage permitted under the plan or arrangement without regard to this section). (c) Applicable period For purposes of this section, the term applicable period means the period beginning on the date of the enactment of this Act and ending on December 31, 2020. 3. Extension of grace periods, etc (a) In general A plan or other arrangement that otherwise satisfies all applicable requirements of sections 106, 125, or 129 of the Internal Revenue Code (including any rules or regulations thereunder) shall not fail to be treated as a cafeteria plan, health flexible spending arrangement, or dependent care flexible spending arrangement (whichever is applicable) merely because such plan or arrangement extends the grace period for the plan year ending in 2020 to 12 months after the end of such plan year, with respect to unused benefits or contributions remaining in a health flexible spending arrangement or a dependent care flexible spending arrangement. (b) Post-Termination reimbursements from health FSAs A plan or other arrangement that otherwise satisfies all applicable requirements of sections 106 and 125 of the Internal Revenue Code of 1986 (including any rules or regulations thereunder) shall not fail to be treated as a cafeteria plan or health flexible spending arrangement merely because such plan or arrangement allows (under rules similar to the rules