USPS Flexible Spending Account (FSA) Program
Flexible Spending Accounts (FSA) Open Season
- Enrollment for 2008 FSAs begins:
November 12, 2007
- Enrollment ends: December 29, 2007
(5:00 P.M. Central Time)
- Enrollments are effective: January 1, 2008.
Who Can Enroll
Only career employees are eligible to enroll in FSAs
for 2008.
What Are FSAs for and How Do They Work?
There are two types of FSAs available to you - the
Health Care FSA for health care expenses and the
Dependent Care FSA for dependent care expenses.
If you're like most people, you have health care
expenses you pay yourself - insurance doesn't cover
them. Expenses for you and your family, like prescriptions,
doctor and dentist visits, vision care, even overthe-
counter medical items like aspirin or bandages.
Expenses like FEHB health plan deductibles or copayments.
If you enroll in FEDVIP and have dental or
vision insurance, amounts for non-cosmetic procedures
or items that your plan doesn't cover. But your
expenses aren't high enough for you to claim a deduction
on your taxes.
You can get a tax break, though, by signing up for
Flexible Spending Accounts (FSAs). You decide how
much to contribute for 2008. Then, you contribute
money every payday to an FSA, which is an account
that allows you to cover your eligible health care
expenses throughout the year with tax-free money.
Meanwhile, whatever you contribute isn't subject to
Federal income tax, or Social Security tax, or Medicare
tax. Since, you get a tax break each payday, it's cheaper
to pay for your health care expenses through an
FSA. (Without an FSA, you pay for health care expenses
using your checkbook or a credit card, and there's
no tax break at all.)
You can use FSAs for dependent care expenses too, and you'll save on taxes the same way.
The full amount that you sign up for is available to you
beginning January 1, 2008, to cover your eligible
expenses, even though FSA contributions are taken
from your pay over the entire year. So, for example, if
you have Lasik surgery in February and it costs you
$3,000, you can withdraw the entire amount from your
Health Care FSA even though you won't have had that
much withheld from your pay at that time. It works
the same way for the Dependent Care FSA too.
Be sure to the read the FSA brochure that's mailed to
you as it explains the limitations on using your FSA - for example, there are specific time limits for expenses
to be eligible. You can't cover certain expenses, such
as cosmetic items or procedures. And there's a deadline
for filing your claims. But the brochure explains
the details.
What Are the Contribution Limits?
You can contribute up to $5,000 to the
Health Care FSA.
You can contribute up to $5,000 to the
Dependent Care FSA
How to Enroll
To use the Employee Web - the easiest way to use
PostalEASE - access the system in any of these ways:
- On the Internet at https://liteblue.usps.gov. Under
"Employee Self Service," select PostalEASE.
- At an employee self-service kiosk.
- On the Intranet at blue.usps.gov. Under
"Employee Resources," select Employee Self
Service and then PostalEASE.
To use the telephone, call the Employee Service Line at
877-4PS-EASE (877-477-3273), option 1.
If you have a medical condition that interferes or for
another reason cannot successfully complete your transaction
using PostalEASE, contact the Human Resources
Shared Service Center (HRSSC) for assistance.
Details Are in the Mail
A leaflet and a brochure, FSA BK1, Flexible Spending
Accounts (November 2007), with a PostalEASE FSA
worksheet included, are being mailed to all career
employees. If you do not receive yours by November
26, 2007, contact the HRSSC.
What if I Enroll in a High-Deductible Health Plan with a Health Savings Account?
It is very important for you to read the FSA brochure
that is mailed to you this FSA Open Season so that you
understand the rules before you sign up for a Health
Care FSA. Look for the section that explains the Limited
FSA.
Questions
Hotline for FSA questions: 800-842-2026.
TTY line for employees who are deaf or hard of hearing:
866-649-4869 or 866-206-7810. Advance call to hotline
encouraged