Tuesday, November 6, 2012

Flexible Spending in 2013


Effective January 1, 2013, the start of the 2013 Flexible Spending Accounts (FSA) plan year, the Health Care maximum contribution for an individual will be reduced from $5,000 to $2,500. 
This is not a family limit; an employee and a spouse may each contribute up to $2,500 to a Health Care FSA. 
The reduction complies with provisions of the 2010 Affordable Care Act. Program materials and the PostalEASE employee self-service enrollment system will reflect the lower maximum contribution.
USPS will issue program materials to coincide with FSA open season, which begins in November 2012.
There are two programs within the Flexible Spending Accounts (FSA) program: Health Care FSA and Dependent Care FSA. Be sure to understand and know the differences between both programs before enrolling.
  • A Health Care FSA is used to cover Health Care Expenses (for you and/or your family) that are not paid by your (or your spouse’s) medical, dental or vision plans, or by insurance. See page 6 in the FSA Booklet [PDF] [Text]
  • A Dependent Care FSA can be used if you will have Dependent Care Expenses (like day care, babysitting, or summer day camp for your children, or elder day care expenses for dependent parents).  A Dependent Care FSA does not cover your dependents’ health care expenses—to cover those, you must enroll in a Health Care FSA. See page 8 in the FSA Brochure [PDF] [Text] (updated in November). 

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