Bart Turney from FSAFEDS discusses the benefits of flexible spending accounts. November 5, 2012
Bart Turney from FSAFEDS discusses the benefits of flexible spending accounts.
Under federal “use it or lose it” rules, any unspent money employees set aside last year to pay for out-of-pocket health costs, such as prescriptions or co-pays, is forfeited at the end of the year. But a group of senators from states surrounding the Washington, D.C., area, wants to change that. Sen. Ben Cardin (D-Md.) along with Sens. Barbara Mikulski (D-Md.), Mark Warner (D-Va.) and Tim Kaine (D-Va.) wrote to Katherine Archuleta, the head of the Office of Personnel Management, requesting the agency implement new regulations that would allow federal employees to roll over as much as $500 in unused funds from year to year.
Feds participating in the Federal Flexible Spending Account Program will now be able to rollover up to $500 from one year to the next in unspent funds from their limited expense and health care flexible spending accounts.
Join hosts Bob Leins and Tammy Flanagan as they welcome Bart Turney from FSAFEDS in the studio to discuss flexible spending accounts and why they are good choices to help with health care AND day care expenses.
The Office of Personnel Management’s Office of the Inspector General has issued a management alert warning that the agency’s procurement process for certain benefits is outdated, creates a conflict of interest and could cause taxpayers to overpay on services.
Federal employees will not be able to submit new Flexible Spending Account claims for health care or dependent care for a month this summer, starting July 30.
The Federal Employee Education and Assistance Fund is offering no-interest loans for federal employees during next month’s FSAFEDS ‘blackout period.’
Open Season for the Federal Employees Health Benefits Program is fast approaching, but starting Sept. 1, for the first time in 10 years federal employees can enroll or increase their life insurance without a health exam, through the Federal Employees’ Group Life Insurance Program.
Tammy Flanagan with the National Institute of Transition Planning joins host Mike Causey on this week’s Your Turn to discuss Uncle Sam’s alphabet-soup federal benefits program for workers and retirees. March 22, 2017