|
|
FSAFEDS Communication Library |
|
The FSAFEDS Communication Library is an archive of program messages that includes email blasts sent to participants as well as past What's New postings.
|
|
|
Email Blasts to Participants
|
January 2008
|
Welcome to FSAFEDS!
We are very pleased that you decided to participate in FSAFEDS and look forward to serving you throughout the 2008 Benefit Period. A special Welcome Back to those of you who were also with us last year!
Below is a quick list of important information and dates that you should be aware of. Please visit www.fsafeds.com at any time to learn more about FSAFEDS.
1. Custom Service: Email: FSAFEDS@shps.com Toll-free: 1-877-FSAFEDS (372-3337), TTY: 1-800-952-0450
FSAFEDS Benefits Counselors are available Monday through Friday, 9:00 am until 9:00 pm, Eastern Time.
2. Claim Form: The claim form is available at www.fsafeds.com under Quick Links on the home page or at https://www.fsafeds.com/forms/opmclmform.pdf.
Please take a moment to read over our Quick Reference Guide (https://www.fsafeds.com/forms/cleanclaimqrg.pdf) on how to submit a "clean" claim.
3. Time to Incur Claims: You have from January 1, 2008 through March 15, 2009 (the 2008 Benefit Period) to incur eligible expenses toward your 2008 health and/or dependent care account.
4. Claims Deadline: You must submit claims for eligible expenses incurred during the 2008 Benefit Period on or before April 30, 2009.
5. My Account Summary (MAS): You can access MAS at https://www.fsafeds.com/fsafeds/login/participantlogin.asp My Account Summary provides information on claims that have been proceeded. You can check on the status of your claims, update your bank account information (for electronic funds transfer), email address or home address, or email FSAFEDS with any questions you may have.
5. Paperless Reimbursement Program (PR): You can read information on PR at https://www.fsafeds.com/forms/paperlessreimb.pdf If you are participating in the Paperless Reimbursement (PR) program for 2008, there are a few things to keep in mind.
- Do NOT submit a manual claim for medical services that will be processed through PR. Doing so will result in a denial of the paper claim and increase administrative expenses for the program.
- If you did not enroll in PR during Open Season, you may enroll any time by logging in to My Account Summary (https://www.fsafeds.com/fsafeds/login/participantlogin.asp), if your FEHB plan participates. Please note that not all FEHB plans participate in PR. To find out if your plan participates visit www.fsafeds.com/forms/paperlessreimb.pdf
We hope you find the FSAFEDS Program to be beneficial to you and your family. Remember to visit www.FSAFEDS.com to check the status of your account or to find answers to questions regarding the program. If you are unable to find an answer, give us a call or email us. We're here to help make your FSAFEDS experience a pleasant one!
Welcome Aboard!
FSAFEDS
|
January 2007
|
Welcome to FSAFEDS!
We are so excited that you decided to participate in FSAFEDS and look forward to serving you throughout the 2007 Benefit Period. A special Welcome Back to those of you who were also with us last year!
Below is a quick list of important information and dates that you should be aware of. Please visit www.fsafeds.com at any time to learn more about FSAFEDS.
1. Custom Service: Toll-free: 1-877-FSAFEDS (372-3337), TTY: 1-800-952-0450 Email: FSAFEDS@shps.com
FSAFEDS Benefits Counselors are available Monday through Friday, 9:00 am until 9:00 pm, Eastern Time.
2. Claim Submission: The newly updated claim form is available at www.fsafeds.com under Quick Links on the home page or you can click on this link (https://www.fsafeds.com/forms/opmclmform.pdf) for a direct connection.
Please take a moment to read over our Quick Reference Guide (https://www.fsafeds.com/forms/cleanclaimqrg.pdf) on how to submit a "clean" claim. Please note that you must use this new version of the claim form. If you've saved a claim form from last year, please be sure to switch to the new form.
3. Benefit Period: You have from January 1, 2007 through March 15, 2008 to incur eligible expenses toward your 2007 health and/or dependent care account.
4. My Account Summary (https://www.fsafeds.com/fsafeds/login/participantlogin.asp) My Account Summary provides up-to-date claims status information at your fingertips! It's available 24/7 -- whenever it's convenient for you. You can check on the status of your claims, update your EFT, email or address information, or email FSAFEDS with any questions you may have.
5. Paperless Reimbursement Program (https://www.fsafeds.com/forms/paperlessreimb.pdf) If you are participating in the Paperless Reimbursement (PR) program for 2007, there are a few things to keep in mind.
- Do NOT submit a manual claim for medical services that will be processed through PR. Doing so will result in a denial of the paper claim.
- If you did not enroll in PR during Open Season, you may enroll any time by logging in to My Account Summary (https://www.fsafeds.com/fsafeds/login/participantlogin.asp). Please note that not all FEHB plans participate in PR.
We hope you find the FSAFEDS Program to be beneficial to you and your family. Remember to visit www.FSAFEDS.com to check the status of your account or to find answers to questions regarding the program. If you are unable to find an answer, give us a call or email us. We're here to help make your FSAFEDS experience a pleasant one!
Welcome Aboard!
|
January 2007
|
FEDVIP Double Reimbursement
|
December 2006
|
New Identifier for FSAFEDS Reimbursement
Dear FSAFEDS Participant,
Currently, when you receive a reimbursement from FSAFEDS via Electronic Funds Transfer (EFT), it is identified as
"SHPS FSA PMT" on your banking statement. Within the next two weeks, this will be changed to read "SPENDING ACCT REIMB". While
this change is minimal and will have no affect on your account or reimbursements, we wanted to notify you of the change so you were
aware of the change and that it is, in fact, your FSAFEDS reimbursement.
|
July 2005
|
FSAFEDS Announces Enhancements to Program
Dear FSAFEDS Participant:
FSAFEDS is pleased to announce several enhancements that promise to benefit all participants - - that means you!
1) Grace period implemented for incurring eligible expenses!
You now have until March 15 of the following year to incur eligible expenses for the current Benefit Period. While this does not eliminate the use-it-or-lose-it rule completely, you now have a great advantage to avoid forfeiting unused funds.
If you have a balance remaining in your Health and/or Dependent Care FSA account as of December 31, you can use those funds for eligible expenses incurred from January 1 through March 15 of the following year. This is effective immediately, so for the 2005 Benefit Period, you have until March 15, 2006 to incur eligible expenses. And, if your 2005 balance is not sufficient to reimburse you in full for expenses incurred through March 15, 2006, the unpaid balance will be paid out of your 2006 account if you re-enrolled during Open Season. If you do not re-enroll, you cannot be reimbursed in full for those expenses.
2) Deadline extended for submitting eligible expenses to FSAFEDS!
The deadline for submitting claims for eligible expenses has been pushed back to accommodate the grace period change. You now have until May 31 following the end of the Benefit Period to submit claims for eligible expenses you incurred through March 15.
3) Health Care FSA maximum increased for 2006!
The Health Care FSA maximum contribution for 2006 will be $5,000 - - that's a $1,000 increase in the pre-tax amount. This change is effective for the 2006 Benefit Period and does not apply to your current 2005 account. Remember, to take advantage of this new maximum, you must re-enroll for the 2006 Benefit Period.
The Health Care FSA maximum contribution for 2006 will be $5,000 - - that's a $1,000 increase in the pre-tax amount. This change is effective for the 2006 Benefit Period and does not apply to your current 2005 account. Remember, to take advantage of this new maximum, you must re-enroll for the 2006 Benefit Period.
You are receiving this update because you are a current FSAFEDS participant. Be sure to spread the word to your colleagues about the exciting changes occurring at FSAFEDS so they can enroll for the 2006 Benefit Period this fall and take advantage of the new benefits!
And, remember you must re-enroll each year to continue participating in FSAFEDS. Don't miss out!
|
June 2005
|
We Are Pleased to Announce the Implementation of a New Claims Imaging System!
Dear FSAFEDS Participant:
We are pleased to announce the implementation of a new claims imaging system! Your incoming claims are routed from the fax directly to our imaging system for processing and payment. Our new system also processes other documentation such as Qualifying Life Events and EFT enrollment forms, etc. The new system promises improved service delivery, offers claim receipt confirmations for all claims, including those from participants who use an Alternate ID, and much more!
But, as you've probably experienced with other new things, it sometimes takes awhile to work out the kinks. This brand new system we're so excited about did experience a short-lived problem already. We may have lost some faxes during the period of June 6 to June 10.
Did you receive an email from us confirming our receipt of claims that you faxed during that period? If yes, nothing more is required. If no, has your claim(s) been paid yet? If it has, nothing more is required. If you don't receive an email confirmation by end of day Wednesday, please fax your claim(s) to us again at 1-866-643-2245 (toll-free). We apologize for this glitch and the frustration that it may have caused.
Our toll-free fax number, 1-866-643-2245 has not changed. However, our direct dial fax number for overseas participants and those unable to use a toll-free number has changed to 1-502-267-2233.
Please note - our mailing address for claims and other correspondence has changed, effective immediately. Our new address is:
FSAFEDS Program
PO Box 36880
Louisville, KY 40232
We are confident that as we move forward, our new imaging system will improve claims processing and increase your satisfaction.
|
|
FSAFEDS What's New Postings
|
January 2007
IMPORTANT INFORMATION for FSAFEDS participants enrolled in FEDVIP
If you are an FSAFEDS participant who has coverage under the new Federal Employees Dental and Vision
Insurance Program (FEDVIP) you need to read one of the following messages to learn about changes in
the processing of your eligible dental and/or vision claims. Please click on the link that applies to you:
|
December 2006
New Identifier for FSAFEDS Reimbursements on Your Bank Statement
Currently, when you receive a reimbursement from FSAFEDS via Electronic Funds Transfer (EFT), it is identified as "SHPS FSA PMT" on your banking statement.
Within the next two weeks, this will be changed to read "SPENDING ACCT REIMB". The identifier
description is the only change being made - this change will not impact your account or you reimbursement.
So don't forget, when you see "SPENDING ACCT REIMB" that's your FSAFEDS reimbursement.
|
December 2006
The Tax Relief and Health Care Act of 2006
On December 20, 2006, President Bush signed the Tax Relief and Health Care Act of 2006. The Act allows additional
opportunities for employees interested in a high deductible health plan (HDHP) with a Health Savings Account (HSA). Please visit
http://www.opm.gov/hsa/2006TaxReliefAct.asp for more information
related to high deductible health plans and HSA's.
The new act allows Federal Employees Health Benefits (FEHB) Program enrollees who are already enrolled (or will enroll) in a HDHP for 2007
and are eligible for an HSA to make the following FSAFEDS changes:
- FEHB Program enrollees who are enrolled in a 2006 Health Care FSA (HCFSA) and choose HDHP coverage for 2007
may make a one-time balance transfer from their Health Care FSA to their HSA. This can be done to use up remaining 2006
HCFSA funds, (including funds that would otherwise be available during the 2-1/2 month grace period for the 2006 Benefit Period - January 1, 2007 through March 15, 2007),
which would otherwise make an individual ineligible for HSA coverage. The maximum amount that can be transferred is the balance in your HCFSA on September 21, 2006 or the date of transfer, whichever amount is less.
In order to transfer your HCFSA funds to your HSA, you will need to know the name of the financial institution that holds your HSA and the routing and account numbers for the financial institution.
If you don't have that information, contact your FEHB HDHP to obtain it. Once you have that information you can call an FSAFEDS Benefits Counselor to initiate the transfer. There may be a small transfer fee; if so, the Benefits Counselor will let you know.
In addition, individuals impacted by the new tax relief have the option of doing ONE of the following:
- You may cancel your 2007 general purpose HCFSA election for purposes of enrolling in a HDHP with an HSA.
OR
- You may convert your 2007 general purpose HCFSA to a Limited Expense HCFSA (LEX HCFSA, limited to dental and vision expenses only) and also, if you wish, change your annual election amount.
OR
- If you are not a current participant in FSAFEDS and you enroll in a HDHP with an HSA, you may now enroll in a LEX HCFSA.
DECEMBER 31, 2006
IS A VERY IMPORTANT DEADLINE - IF YOU ARE GOING TO MAKE ONE OF THE ABOVE CHANGES YOU MUST NOTIFY US OF YOUR SELECTED CHANGE BY DECEMBER 31,2006.
Here's how you let us know about the change you wish to make. Click on https://www.fsafeds.com/forms/BelatedEnrollment.pdf and fill out the form. Make sure to state under the "other" checkbox one of the following:
- "Cancel my 2007 Health Care FSA election" or
- "Change my 2007 general purpose Health Care FSA election to a Limited Expense Health Care FSA" (You can change your current election amount if you want to) or
- "Enroll me in a Limited Expense Health Care FSA for 2007".
Be sure to sign and fax the Belated Enrollment Form to FSAFEDS NO LATER THAN December 31, 2006. You must submit your enrollment change using the Belated Enrollment Form. We cannot take your enrollment change over the phone.
Please visit http://www.opm.gov/hsa/2006TaxReliefAct.asp for additional information on the new tax relief law and how it relates to HDHPs. If you have questions about the above FSAFEDS options or want to make an account balance transfer, please call an FSAFEDS Benefits Counselor toll free at 1-877-FSAFEDS (372-3337), (TYY: 1-800-952-0450), Monday through Friday, 9:00 A.M. to 9:00 P.M., Eastern Time.
|
December 2006
Association Benefit Plan Expands Offerings to Additional Agencies
This year, all members of the Intelligence Community are eligible to enroll in the Association Benefit Plan for
2007.
If you intend to enroll in this FEHB plan for 2007 and would like to enroll in FSAFEDS, please call an FSAFEDS
Benefits Counselor at 1-877-FSAFEDS (372-3337), (TYY: 1-800-952-0450), Monday through Friday, 9:00 a.m. until 9:00 p.m.,
Eastern Time.
For more information on Association Benefit Plan, visit the plan brochure at www.opm.gov.
|
November 2006
FSAFEDS Announces Mileage Rate Increase for 2007!
FSAFEDS is pleased to announce that the IRS has implemented an increase in the
standard mileage rate when using a car or motorcycle to obtain medical care.
Effective January 1, 2007, you will be able to claim 20 cents per mile for travel to
and from eligible health care providers for medical care received during the 2007 calendar year.
For more information on transportation expenses, refer to "Transportation"
on the Eligible Expenses Juke Box.
The notification comes just in time for the 2007 FSAFEDS Open Season! Be sure to
consider your mileage expenses when deciding your 2007 election!
|
June 2006
FSAFEDS Important Reminder: Final Grace Period Reconciliation
FSAFEDS will conduct the final grace period reconciliation (true-up) for the 2005 Benefit Period on July 14, 2006. This final reconciliation will automatically occur for all participants with a remaining balance for the 2005 Benefit Period after May 31.
What does this mean for you? It means nothing if you used up your 2005 balance by December 31, 2005. But if you
still had money in your 2005 account going into 2006, it is important. It means that all eligible expenses you incurred during the grace period (January 1 through March 15, 2006) will be applied
toward your 2005 account up to the available balance. This means your 2005 balance will decrease by the amount of your grace period claims and your 2006 account will be credited that same amount.
For more information about the Grace Period, please visit the Summary of Benefits with Frequently Asked Questions and select the 2 1/2 Month Grace Period section. You
can also access your account information at any time at My Account Summary.
|
June 2006
The FSAFEDS Debit Card Pilot FAQs
For more information regarding FSAFEDS Debit Card program, please refer to the Debit Card Pilot Frequently Asked Questions.
|
May 2006
FSAFEDS Announces a Debit Card Pilot Program!
FSAFEDS is pleased to announce the launch of a pilot program for Debit Cards to be used with health care accounts.
This means pilot participants can make eligible health care purchases without using cash! The Debit Card will draw
from a participant's FSAFEDS health care account to cover purchases.
Participation in the pilot is limited to FSAFEDS participants enrolled in the Government Employees Hospital Association
Plan (GEHA) and runs from mid-June thru December 2006. Eligible participants will receive notification by mail.
The pilot will help FSAFEDS determine if we will offer a debit card option to all FSAFEDS participants for the 2007
Benefit Period. We will rely on participant feedback and other evaluation criteria when making a decision about 2007.
FSAFEDS is very excited about this Debit Card pilot - we hope you are too!
|
March 2006
The New BENEFEDS Portal Processes Payroll Deduction Functions for FSAFEDS
The BENEFEDS Portal is the new administrative system authorized by the Office of Personnel Management to handle payroll deduction
functions for FSAFEDS. The BENEFEDS Portal (also called the "Voluntary Benefits Portal") works directly with SHPS,
the third party administrator for FSAFEDS, and Federal agencies to process the payroll deduction of your FSAFEDS allotments.
Please be assured that emails you send to FSAFEDS@BENEFEDS.com are sent securely and
the information received is used solely to establish your FSAFEDS account.
|
February 2006
FSAFEDS Important Reminder: Use It or Lose It!
Dear FSAFEDS Participant:
You are receiving this e-mail because as of February 10, 2006, you have a balance remaining in your 2005 health care and/or dependent care flexible spending account.
You have until March 15, 2006 to incur eligible expenses towards your 2005 account balance. That extra time to use your 2005 funds (January 1 - March 15) is called the grace period. Please note that 2006 funds cannot be used to pay for expenses incurred during the 2005 calendar year.
You can access your account information at any time by visiting www.FSAFEDS.com (https://www.fsafeds.com/fsafeds/index.asp) and logging in to My Account Summary.
***Remember - you only need to INCUR eligible expenses by March 15 to avoid forfeiting your 2005 funds. You still have until May 31, 2006 to SUBMIT your claims for 2005 expenses.
If you have questions or have any difficulties accessing your information online, contact us via email at FSAFEDS@shps.com or call an FSAFEDS Benefits Counselor at 1-877-FSAFEDS (372-3337), (TTY: 1-800-952-0450), Monday through Friday, 9:00 a.m. until 9:00 p.m., Eastern Time.
|
January 2006
Welcome to FSAFEDS!
We look forward to serving you throughout the 2006 Benefit Period.
Below is a quick list of important information and dates that you should know.
Please feel free to visit www.FSAFEDS.com at any time for additional information.
-
Customer Service Contacts:
Toll-free: 1-877-FSAFEDS (372-3337), TTY: 1-800-952-0450
Email: FSAFEDS@shps.com
FSAFEDS Benefits Counselors are available Monday through Friday, 9:00 A.M. until 9:00 P.M., Eastern Time.
-
The 2006 Benefit Period:
You have from January 1, 2006 through March 15, 2007 to incur eligible expenses
towards your health care and/or dependent care flexible spending account
-
Claim Submission Information:
Claim Form: Available at www.FSAFEDS.com located at the top of the page on the bottom of the flag banner
Toll-free Fax: 1-866-643-2245
Outside U.S. Fax: 1-502-267-2233
Standard Mail: FSAFEDS Program, PO Box 36880, Louisville, KY 40232
Overnight Mail: FSAFEDS Program, c/o SHPS, 11405 Bluegrass Pkwy, Louisville, KY 40299
-
Eligible Expenses:
Take a moment to peruse the Eligible Expense Juke Box by clicking on
https://www.fsafeds.com/fsafeds/eligibleexpenses.asp. You can quickly determine
if a particular expense is eligible for reimbursement.
-
Deadline for Filing Claims:
You must submit your claims no later than May 31, 2007.
-
My Account Summary:(https://www.fsafeds.com/fsafeds/login/participantlogin.asp)
My Account Summary allows you to check your claims, update your EFT, etc., 24/7 - - whenever it's convenient for you.
We're here to help make your FSAFEDS experience a pleasant one!
Welcome Aboard!
FSAFEDS
|
December 2005
FSAFEDS Introduces a New Option for 2006: Limited Expense Health Care Flexible Spending Account
Enrollees with a High Deductible Health Plan with a Health Savings Account have the option of selecting
a Limited Expense Health Care Flexible Savings Account (LEX HCFSA) for the 2006 Benefit Period.
To learn more, refer to the LEX HCFSA
|
September 2005
FSAFEDS Announces Mileage Rate Increase
The reimbursable mileage rate that you can claim for obtaining health care has increased
from $0.15 to $0.22 per mile. The new $0.22 rate is in effect from September through December 2005.
Click here to learn more about using this benefit.
An IRS press release cites the recent gas price increases as the reason for this rate change.
Normally the mileage rates are set in the fall for the following calendar year. The IRS also indicates that because gas prices may decline in the coming months, decisions regarding maintaining the new mileage rates for 2006 will not be decided until closer to January.
Please remember that the new rates are only for September through December of this year.
Mileage has decreased to $.18 per mile as of 1/1/06.
For a copy of the press release, go to: www.irs.ustreas.gov/newsroom/article/0,,id=147423,00.html.
|
September 2005
Impacted by Katrina or Rita? Need Help With Your FSAFEDS Account?
Our hearts go out to all affected by Hurricane Katrina and Rita. If you are an FSAFEDS enrollee or
family member who is experiencing a hardship involving your FSAFEDS account, please call us toll-free at 1-877-372-3337, TTY:
1-800-952-0450 so we can work with you.
|
September 2005
FSAFEDS Announces Au Pair Placement Fees Are Now Eligible!
The up-front fee you may pay in order to obtain dependent care is an eligible expense under your
dependent care FSA. However, the fee can only be reimbursed proportionately over the duration of
the agreement to employ the dependent care provider, such as an au pair. The weekly stipend, as well as
other work-related expenses, may also qualify as an expense for the care of a qualifying individual, depending on your tax situation. For more information,
refer to the DCFSA in the Summary of Benefits with Frequently Asked Questions.
|
November 2004
New FEHB Plans Join Paperless Reimbursement Program
Beginning January 1, 2005, FSAFEDS will begin accepting claims via Paperless Reimbursement from the following FEHB Plans:
- Humana
- National Association of Letter Carriers Benefit Plan
- Preferred Care
- Special Agents Mutual Benefit Association
For more information see the Paperless Reimbursement Overview QRG.
|
November 2004
FSAFEDS Introduces Online Payroll Schedules
Simply select your payroll provider from the FSAFEDS Allotment Schedule list to view your allotment schedule.
This tool will help you identify the date on which we must receive your change in order for it to be processed on a specific pay period. While this tool will be helpful in determining
when a specific allotment will occur, its purpose is not to determine the effective date of a new election amount, i.e. a Qualifying Life Event.
Refer to the Qualifying Life Events QRG to learn more.
|
September 2004
OPM Announces New Health Benefits Option
In 2005, there will be a significant new choice in the Federal Employees Health
Benefits Program - High Deductible Health Plans (HDHPs) that incorporate Health
Savings Accounts (HSAs). HSAs are similar to Health Care Flexible Spending
Accounts (HCFSA) in that they are funded with pre-tax dollars that can be used
for the same type of health care expenses. They are different from
HCFSAs in that savings can accumulate from year-to-year without limit - there is
no forfeiture rule. HSAs are available to employees who elect a HDHP that has
an annual deductible of at least $1,050 for self, or $2,100 for family coverage,
during Open Season. One of the most important things to keep in mind is that you cannot have an HSA
and a Health Care FSA (HCFSA) at the same time. However, if you are otherwise eligible, you can still
have a Dependent Care FSA (DCFSA) even if you have an HSA.
NOTE: FSAFEDS is not involved in the HDHP offering, so if you have questions
regarding HDHPs and/or HSAs visit http://www.opm.gov/hsa.
|
July 2004
FSAFEDS Launches Juke Box Detailing Eligible and Ineligible HCFSA Expenses
Now there's a single-source available that details the eligible and ineligible HCFSA
expenses available under FSAFEDS - - and it's available at your fingertips!
Visit our FSAFEDS Juke Box today - - you may just find a new expense you can
claim!
|
July 2004
Updated Frequently Asked Questions
Our new and improved Summary of Benefits with Frequently Asked Questions will answer many
of the questions you have regarding the FSAFEDS program. Topics range from the Open Season and Enrollment to more complex
issues, such as a Qualifying Life Event. Visit our Summary of Benefits with Frequently Asked Questions today and starting learning
how you can save!
|
July 2004
FSAFEDS Now Supports Netscape Version 6.1 and Higher
Only Netscape browser versions 6.1 and higher meet
accessibility requirements.
Attention Netscape Users! The FSAFEDS web site now supports Netscape browser versions 6.1, or
higher due to accessibility requirements. If you are using an older version, we
recommend upgrading to one that is compatible with the system requirements. A
free browser upgrade can be downloaded at www.netscape.com. Internet Explorer users will not be not affected.
|
July 2004
M.D. IPA Now Offering Paperless Reimbursement
M.D. IPA Enrollees can now select paperless reimbursement.
FSAFEDS is pleased to announce that M.D. IPA is now participating in the
Paperless Reimbursement program. If you are an M.D. IPA participant, simply log
in to My Account Summary and select the Paperless Reimbursement option on the left side
of your screen.
|
May 2004
Legislative Update on FSA Rollovers
House Passes Rollover Legislation, But Senate Must Approve
Before Bill Becomes Law
The U.S. House of Representatives recently passed
legislation (H.R. 4279) that would allow up to $500 of unused funds to carry
forward either:
- In a Flexible Spending Account (FSA)
from one Benefit Period to the next, or
- Be contributed to a Health Savings Account (HSA).
However, the Senate must still pass this legislation and the
President must sign the bill before it becomes law. Therefore, until this legislation is acted
upon by the Senate, FSA carryovers are still not permitted and all unused
funds in any Benefit Period will still be forfeited.
Although it is widely believed that by easing the
"use-it-or-lose-it" rule and allowing a carryover provision, more employees
will participate in these tax-advantaged programs and become more prudent users
of health care services, there is no indication when, or if, the Senate will
act upon this legislation.
|
January 2004
Paperless Reimbursement Program Updates
FSAFEDS has partnered with a number of FEHB plans to implement Paperless Reimbursement.
This new program eliminates the need for manually submitting your Explanation of Benefit
statements to FSAFEDS. Instead, once your FEHB plan processes your medical, dental, and/or
prescription claims, they will submit your out-of-pocket expense(s) electronically to FSAFEDS
for Paperless Reimbursement for your Health Care Flexible Spending Account (HCFSA). Not only are
you saving money with your HCFSA, you are saving valuable time as well! Please click here for
updated Frequently Asked Questions. You may also view the Paperless
Reimbursement Quick Reference Guide for additional program information.
|
September 2003
FSAFEDS Publishes OTC Medicine Reference Guide
The recent IRS ruling allowed for reimbursement of certain over-the-counter (OTC) medicines
and products from your Health Care Flexible Spending Account (HCFSA). FSAFEDS has issued guidelines
for participants when filing their claims for eligible OTC products in the form of a Quick
Reference Guide. The guide lists the type or class of products that fall into the eligible,
dual purpose, and excluded categories, as well as listing examples for each category. This
document should provide FSAFEDS HCFSA participants a thorough overview of eligible and ineligible
OTC expenses, as well as how to file reimbursement claims for these items. You can access the
FSAFEDS OTC Quick Reference Guide by clicking on the link above or entering the Literature
area of the web site.
Scroll down to view additional information on the OTC ruling, including the press release announcing that OPM will cover OTC medicines under the Health Care Flexible Spending Account and the effective date for OTC coverage, January 1, 2004.
|
FSAFEDS Will Cover Over-the-Counter Medicines
Non-prescription antacids, allergy medicines, pain relievers,
and cold medicines purchased to alleviate or treat employees
and their dependents personal injuries or sickness are eligible
for reimbursement through your HCFSA, effective at the beginning
of the new Benefit Period on January 1, 2004. Vitamins and other dietary
supplements that are merely beneficial to general health remain
ineligible for reimbursement. The IRS ruling does not affect existing
HCFSA rules, meaning your eligible expenses must still be incurred
during your period of coverage and must not be reimbursable through
another plan. Click on the IRS Ruling to read a detailed account or
view the OPM Press Release for more information.
|
|
 
 
|