Flexible Spending Accounts Open Season Correction

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The amount of money you put into an FSA is entirely up to you. Be advised, however, that you must utilize the majority of the funds in your FSA, or you could lose that money under newly adopted rules. The previous two-and-a-half month grace period to spend unused FSA funds will be replaced with a $500 carryover of unused funds to the next year for the Health Care FSA. Any unused balance above $500 will be forfeited at the end of the calendar year.  Also, be aware that employees will enroll directly with FSAFEDS, rather than through PostalEASE as they do currently. Enrollment can be done either online or by phone, similar to how employees currently enroll in Federal Employee Dental and Vision Program (FEDVIP). Visit https://www.fsafeds.com/ or call 877-FSAFEDS (372-3337) or TTY: 866-353-8058 for additional enrollment details.

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