The terms of the Federal Flexible Benefits Plan govern my FSAFEDS election. I understand that I will receive pre-tax benefits in lieu of salary for any of the optional coverages I elect.
The amount of my election is divided by the number of remaining pay dates in the calendar year and the resulting amount will be allotted from my salary, continuing for each pay date until my enrollment is revoked or terminated.
My FSAFEDS allotments are pre-tax elections and will reduce the portion of my salary subject to Social Security tax withholdings. This means that, depending upon my income, my Social Security benefits could be slightly decreased.
- Until the next Open Season, when I can make a new election or choose not to elect.
- Unless I experience a Qualifying Life Event (QLE; such as marriage, divorce and other such events allowed under the Internal Revenue Code and the Federal Flexible Benefits Plan) and my election change is the result of, and consistent with, the Qualifying Life Event. If my Qualifying Life Event occurs on or after October 1, I will only be able to reduce my FSAFEDS election amount; I will not be able to increase it.
I must make an annual election to receive pretax benefits using FSAFEDS. My salary allotments will automatically end after the last pay date in the calendar year. Election is not automatic and does not continue year after year without my re-election.
My election effective date as a new hire will begin the day after I complete the new hire election online. I will be eligible for expenses incurred only during the Benefit Period (defined later) under the Plan.
I must file all claims by the claims deadline of April 30th the following calendar year.
If I am eligible for carryover, I will forfeit any unused amounts in excess of $610.00 remaining in my previous plan year account. Unused amounts are those for which I have not incurred eligible expenses and submitted valid claims by the claims deadline. My agency does not have the authority to provide waivers for me or any employee regarding funds that may be forfeited.
If I am not eligible for carryover, I will forfeit any unused amounts remaining in my previous plan year account. Unused amounts are those for which I have not incurred eligible expenses and submitted valid claims by the claims deadline. My agency does not have the authority to provide waivers for me or any employee regarding funds that may be forfeited.
I can only submit claims for reimbursement of eligible health care expenses that are incurred after my election is effective and until the end of the calendar year during which my election remains effective under the Plan.
I can carry over up to $610.00 of “unused funds” to the following plan year, provided I elect and make an election to a pretax health care FSA or Limited Expense FSA in the next plan year. I must be employed by an agency that participates in FSAFEDS and actively employed through the end of the calendar year to be eligible to carry over funds to the next plan year. “Unused funds” means any amount remaining after all claims have been submitted and all eligible health care expenses have been paid (i.e. following the April 30 claims deadline).
If I am eligible for carryover, I will forfeit any unused amounts in excess of $610.00 that I have remaining in my previous plan year account. Unused amounts are those for which I have not incurred valid expenses and submitted valid claims. My agency does not have the authority to provide waivers for me or any employee regarding funds that may be forfeited.
If I am not eligible for carryover, I will forfeit any unused amounts remaining in my previous plan year account. Unused amounts are those for which I have not incurred valid expenses and submitted valid claims by the claims deadline. My agency does not have the authority to provide waivers for me or any employee regarding funds that may be forfeited.
If I go on leave without pay (LWOP) and will not be making allotments to my account(s), or if I separate or retire, I can only be reimbursed for eligible health care expenses incurred while actively covered under the plan (on or before my date of leave, separation or retirement). If I choose to cancel my enrollment as a result of a QLE, only expenses incurred on or before my coverage end date are eligible.
I must file all claims by the claims deadline of April 30th the following calendar year.
Whether or not I am eligible for the grace period, I will forfeit any unused amounts remaining in my previous plan year account. Unused amounts are those for which I have not incurred eligible expenses and submitted valid claims by the claims deadline. My agency does not have the authority to provide waivers for me or any employee regarding funds that may be forfeited.
I can submit claims for reimbursement of eligible dependent care expenses that are incurred after my election is effective and until the end of the calendar year in which I elected DCFSA.
If I am employed by an agency that participates in FSAFEDS, I am eligible for the grace period that provides an extra 2 ½ months, (i.e., to March 15th the following calendar year) during which eligible dependent care expenses may continue to be incurred under the plan.
If I go on leave without pay (LWOP) and will not be making allotments to my account(s), or if I separate or retire, I can be reimbursed, up to my account balance, for eligible dependent care expenses incurred while I was actively covered under the plan.
I agree to use direct deposit for my reimbursements. If I do not use a financial institution that supports direct deposit, I will have the option to be reimbursed by check. I can update my reimbursement method at any time after entering my username and password, by clicking on Profile and then clicking on Reimbursement Method.
BENEFEDS is the administrative system authorized by the Office of Personnel Management to handle payroll deduction and allotment functions for FSAFEDS. BENEFEDS works directly with HealthEquity, Inc., the third party administrator for FSAFEDS, and Federal agencies to process the payroll deduction(s) of my FSAFEDS allotments. BENEFEDS also handles enrollment and payroll processing functions for the Federal Employees Dental and Vision Insurance Program (FEDVIP).
If I am enrolled in FEDVIP, I understand that BENEFEDS will send information about my FEDVIP enrollment to HealthEquity, Inc., for purposes of coordination of benefits with my FSAFEDS account.
If I am enrolled in a Federal Employee Health Benefits Program (FEHB) or FEDVIP health plan, I may authorize my health plan to send claims for my out-of-pocket expenses to FSAFEDS to enable paperless reimbursement. I understand some health plans do not participate in this feature and that new health plans are enabled from time to time. If I enroll in paperless reimbursement, I understand I am responsible for reviewing these claims and manually filing claims for any eligible expense that is not automatically reimbursed. Some of these expenses can include claims that are not forwarded by my plan(s) and expenses that are forwarded by my plan(s) as ineligible.
I understand that I must notify FSAFEDS if I am reimbursed for the same expense from FEHB, FEDVIP and/or any other insurance plan and from FSAFEDS. I agree that it will be my responsibility to return any duplicate reimbursement to FSAFEDS.
If I provide my cell phone number as a contact number, I am authorizing FSAFEDS to use this number to contact me regarding the program via calls or texts.
I agree to allow FSAFEDS to contact me regarding important program updates through various mechanisms including, but not limited to, automated calls to my home or cell number, email, texts and mail.