Open Season Also Affects FSAs

During the same open season period, employees will be able to sign up for flexible spending accounts for the 2007 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. The maximum for health care accounts and dependent care accounts remains $5,000 each. Employees can enroll in one, both or neither.