Message Board

Oct 14, 2016

Welcome USPS Employees!

As you may be aware, USPS employees have the opportunity to enroll in Flexible Spending Accounts (FSAs) through the FSAFEDS Program during Open Season. An FSAFEDS account lets you set aside part of your paycheck before taxes are taken out, and then you can use that tax-free money to pay for eligible expenses for you, your spouse, and eligible dependents.

Open Season is just around the corner - it begins on November 14, 2016 and runs through December 12, 2016. To prepare for Open Season:

• Simply explore your FSA options and decide which FSAs are best for you and your family. Be sure to review the website details carefully since there are some plan differences between FSAFEDS and your current United Healthcare FSA. (See differences below.)

• Then check out eligible FSA expenses. How much did you spend on eligible health care or dependent care expenses in 2016? Knowing that will help you determine how much to contribute to your account.

• Let us do the math for you! Calculate your FSA savings using our online calculators.

New Features and Plan Changes

• Who can participate: USPS employees (career and non-career) can participate in FSAFEDS if you meet FEHB eligibility requirements ^.* Plus, USPS new hires can enroll in FSAFEDS during Open Season. There is no more one-year waiting period.

• Carryover: This is an exciting new feature because with Carryover, your "use or lose" risk is significantly reduced if you have in a Health Care FSA (HCFSA) or Limited Expense Health Care FSA (LEX HCFSA) through FSAFEDS. If you enroll in an HCFSA or LEX HCFSA for the 2017 benefit period, you can carry over up to $500 to your 2018 account if you re-enroll during Open Season next year.

  Due to IRS rules, HCFSAs and LEX HCFSAs cannot have Carryover and a grace period, so these FSAs will no longer have a grace period under the FSAFEDS Program. Any balance above $500 in your 2017 HCFSA or LEX HCFSA account must be used by December 31, 2017. If you still have money remaining in your 2016 FSA that's administered by United Healthcare, you have until March 15, 2017 to use those funds.

  However, you still have a 2 ½ months grace period for a Dependent Care FSA. Carryover does not apply to this FSA because of IRS regulations.

  Visit the Explore Your Options webpage to find out which FSAs are best suited for you and your family.

• Reimbursement options: If you plan to enroll in a Health Care FSA, you have the option of using Paperless Reimbursement, which automatically reimburses your eligible health care, retail pharmacy, dental, and vision expenses under participating FEHB and FEDVIP plans (PDF). There is little or no paperwork involved, and in many cases, you will receive your reimbursement before your bill is due.

  Or if you prefer, rather than reimbursing your claims automatically, your Health Care FSA or Limited Expense FSA expenses are saved to your online FSAFEDS account so you can decide if, how, and when you receive reimbursement. This option is called Pick and Process. Just identify your participating FEHB or FEDVIP plan (PDF) during enrollment.

  Please note: These two options are not available for a Dependent Care FSA. If you have this account, just submit your claims using the method that works best for you.

• Claims: While the FSAFEDS Program does not offer a debit card, there are several convenient claim submission options -including online, mobile app, fax and mail. Check out the FSAFEDS app- it's the easiest way to manage your FSA. All 2017 FSA claims must be submitted by April 30, 2018.

To learn more, browse our website and review the Frequently Asked Questions. Or during Open Season, contact an FSAFEDS Benefits Counselor toll-free at 877-FSAFEDS (372-3337), TTY: 866-353-8058, Monday through Friday from 9 a.m. until 9 p.m., Eastern Time. We'll be happy to answer any questions you may have.

• * FEHB eligible requirements: If you are eligible for the Federal Employees Health Benefits (FEHB) Program and are an active employee of the Executive Branch or of another agency that participates in FSAFEDS, you are eligible to participate in a Health Care FSA (HCFSA) with FSAFEDS. You need only be eligible to participate in FEHB - you do not need to be currently enrolled. However, a Limited Expense Health Care FSA (LEX HCFSA) is different. You must be enrolled in a FEHB with a Health Savings Account (HSA), or have a spouse who is enrolled in a non-FEHB HSA-qualified HDHP and has an HSA, to enroll in a LEX HCFSA.