Employee Benefits - NIH Benefits Information - Did You Know? October 2007
What's New?
Topics of Interest:
- What Is The Difference Between A Health Savings Account (HSA) And A Health Care Flexible Spending Account (HCFSA)?
- When Is The Next Open Season For The Federal Employees’ Group Life Insurance (FEGLI) Program?
- If I Have Prior Military Service, Do I Need To Pay A Deposit To Receive Credit For Retirement Purposes?
- I Have Misplaced My myPay PIN. How Do I Obtain A New One?
Where Do I Go If I Have Questions About My Benefits?
1. BENEFITS CALENDAR OF EVENTS
2. OUR OFFICE HAS TEMPORARILY MOVED TO A NEW LOCATION!
Effective September 13, 2007, the Benefits and Payroll Liaison Branch temporarily moved from Building 31 to the Fernwood Building in Rockville. We are currently located at 10401 Fernwood Rd, Room 2SE71, MSC 4833. If you are on campus, you may hand deliver benefits forms or other documents to Building 31/Room B3C30, and they will be forwarded to us, or you may send them directly to our new location. Please note that our telephone and fax numbers remain the same. We anticipate being at our temporary location for approximately 6-8 weeks. If you have additional questions, notify your Benefits Contact.
3. DID YOU KNOW YOU CAN RECEIVE E-MAIL UPDATES FROM THE THRIFT SAVINGS PLAN (TSP)?
You can now subscribe to the Thrift Savings Plan’s new GovDelivery service to receive personal e-mails notifying you when new participant statements are posted on the web, new Highlights are added, and new information is added to the “What's New” section. This is a free service. For other TSP information, refer to the TSP home page.
4. THE FEDERAL BENEFITS OPEN SEASON IS COMING!
The following three programs will be participating in this year’s open season for the 2008 plan year: 1) Federal Employees’ Health Benefits (FEHB) Program; 2) Federal Employees’ Dental and Vision Insurance Program (FEDVIP); and 3) Flexible Spending Accounts (FSA) Program. The open season will be held from November 12, 2007 through December 10, 2007. You should read the open season announcement thoroughly for information pertaining to each program.
Please remember that there are no longer open seasons for the Thrift Savings Plan (TSP). You may start, stop, or change your TSP contributions at any time via myPay, provided you are eligible to participate in the TSP.
5. WHAT IS THE DIFFERENCE BETWEEN A HEALTH SAVINGS ACCOUNT (HSA) AND A HEALTH CARE FLEXIBLE SPENDING ACCOUNT (HCFSA)?
A Health Savings Account (HSA) is an investment account from which you can withdraw money tax-free for medical costs. Accounts are available if you are enrolled in a High Deductible Health Plan (HDHP). Your HDHP credits a portion of your premium to the HSA. You also have the option to make pre-tax contributions to the account. These accounts earn interest and roll over any remaining balance from year to year. The funds are yours to keep whether you change plans, leave Federal service or retire. Withdrawals can also be used for non-medical expenses. However you will be subject to a 10% penalty if under age 65.
If you are not enrolled in a HDHP with an HSA, you may enroll in a Health Care Flexible Spending Account (HCFSA). These accounts also allow tax-free reimbursement of eligible medical costs. You make an annual election. The election is divided into allotments based on the number of pay dates in the plan year. Every pay date, an allotment is deposited directly into your account. Unlike HSA, expenses in your account must be incurred by March 15th following the end of the plan year. Otherwise, your unused balances are forfeited. Interest in your account does not accrue and withdrawals cannot be used for non-medical expenses.
6. WHEN IS THE NEXT OPEN SEASON FOR THE FEDERAL EMPLOYEES’ GROUP LIFE INSURANCE (FEGLI) PROGRAM?
There is no set date. FEGLI open seasons are held quite infrequently, so when one will occur is uncertain. However, when OPM announces an open season, you will be given advance notice. The most recent FEGLI Open Seasons were held in September 2004 and April - June 1999. Please note that outside of open season, there are limited qualifying life events which allow you to make changes to your life insurance. If you have questions, notify your Benefits Contact.
7. IF I HAVE PRIOR MILITARY SERVICE, DO I NEED TO PAY A DEPOSIT TO RECEIVE CREDIT FOR RETIREMENT PURPOSES?
If you performed active duty military service after December 31, 1956 (after June 30, 1960, in the PHS Commissioned Corps), you may need to pay a deposit (including interest) to DFAS prior to retirement in order to receive retirement credit for the military service.
If you are covered by the Civil Service Retirement System (CSRS) or CSRS-Offset -- And employed on a CSRS covered Federal appointment prior to 10/1/82, active duty service is creditable without a deposit. However, if you are eligible for a Social Security benefit at age 62 (or at retirement if you retire after 62), the active duty credit will be removed or not used in calculating your retirement benefit unless you pay a deposit. If you were employed in a CSRS covered Federal appointment on or after 10/1/82, active duty service is creditable only if a deposit is paid.
If you are covered by the Federal Employees Retirement System (FERS) -- Active duty military service is creditable only if a deposit is paid.
For further information, please get in touch with the Benefits Contact for your IC.
8. I HAVE MISPLACED MY myPAY PIN. HOW DO I OBTAIN A NEW ONE?
You can request a new PIN in one of two ways. One of which is by selecting “New Pin” on the myPay (DFAS) website. Please make sure you use the “Go” button to finalize your request. Using this method your PIN will be mailed to your current record of address within 7 to 10 business days.
If you need it sooner, your second option is to send a fax to 216-367-3549. You will need to include in your request, your name, SSN, a daytime phone number, a copy of your NIH ID, and you must sign the fax. Upon receiving your fax, the Defense Finance & Accounting Service (DFAS) will reset your PIN using the last 5 numbers of your SSN as your temporary PIN. You will then be able to log in within 3 days using your temporary PIN. Upon logging in, you will be prompted to reset your PIN.
If you encounter problems with your PIN or using myPay (DFAS), contact the DFAS Centralized Customer Support Unit toll-free at 1-888-332-7411. This support line is available Monday through Friday, 7:00 A.M. to 7:30 P.M. Eastern Standard Time. The Centralized Customer Support Unit can provide assistance on how to use the options available to you in myPay. The Centralized Customer Support Unit will also provide support for establishing and changing your PIN.
9. HOW CAN I GET IN TOUCH WITH MY BENEFITS CONTACT?
Your contact in the Benefits and Payroll Liaison Branch will be able to help you with a variety of issues pertaining to the health and life insurance programs, designating beneficiaries, the Thrift Savings Plan (TSP), calculating your retirement annuity estimate, working with you to pay a redeposit for prior civilian service if you previously withdrew your retirement funds, paying a deposit for prior civilian or military service for which retirement deductions were not withheld, etc. To find your benefits contact, review our list of contacts. In addition, the Benefits and Payroll Liaison Branch (BPLB) website has a wealth of information regarding your Federal benefits.
Human resource topics not related to your benefits are normally handled by your Client Services Division HR Representative.
