Employees who want to save money for future medical expenses have several options during this year’s Open Season, which is underway through Monday, December 10.
If you enroll in a High-Deductible Health Plan (HDHP), you may be eligible to contribute to a Health Savings Account (HSA).
An HSA allows you to pay for current health expenses and save for future medical expenses on a tax deductible or pretax basis. An HSA is yours to keep — even if you change health plans or leave the Postal Service.
Additionally, some plans offer Health Reimbursement Arrangements (HRAs), which are funds you can use to help cover out-of-pocket medical expenses. HRAs are generally available to employees who enroll in a Consumer-Driven Health Plan (CDHP).
If an HDHP or CDHP doesn’t meet your needs, you can sign up for a Flexible Spending Account (FSA), which allows you to set aside money on a pretax basis to pay for health and dependent care expenses.
The Open Season LiteBlue page has more information to help you evaluate your options and choose a plan that best fits your needs.
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