Open Season Also Affects FSAs

By: fedweek

During the same open season period, employees will be able to sign up for flexible spending accounts for the 2008 plan year. FSAs allow employees (but not retirees) to set aside pre-tax money that can be used for certain health and dependent care expenses. Individuals must reenroll each year—enrollment does not renew automatically as it does in FEHB. Employees can enroll in one, both or neither. There are about 200,000 employees with health care accounts and 30,000 with dependent care accounts.