Below is the official update as it was published by Disney:
Book with Confidence
Enjoy added peace of mind when you book your next Disney vacation! If your plans change, any Disney-imposed change and cancellation fees will be waived up to the date of check-in for reservations with arrivals through December 31, 2020.
This means that no matter what, you will be able to cancel your Disney World trip at any time up to your check-in date without having to pay any change or cancellation fees. Keep in mind, however, that if you are flying to Disney World you will still need to check with your airline about those travel cancellation and modification policies. But as far as Disney World goes, no cancellation or modification fees will apply.
If you are planning a trip for 2020 or 2021, we highly recommend working with the Authorized Disney Vacation Planners at Academy Travel. When we get unexpected news, something comes up, or we are just unable to travel to Walt Disney World at the last minute, it’s comforting to know that we are working with travel agents who understand and who can take care of the entire cancellation or modification process.
Academy Travel will work with you when booking your trip to help you find the best rate and the package that is right for you. But if you need to cancel or change your plans in any way, Academy Travel can of course help with that, too. This way, you won’t have to stress one bit about changing your vacation around if it turns out you can’t go. We all want to visit Magic Kingdom, EPCOT, Disney’s Hollywood Studios, and Disney’s Animal Kingdom, but sometimes a trip to the Most Magical Place on Earth doesn’t work out and we have to postpone, and that’s okay.