The annual 2022 Federal Benefits Open Season runs from November 14 to December 12, and the Office of Personnel Management reminds all to keep in mind that they may be able to save money on their health care by making changes.
Tens of thousands of enrollees potentially leave valuable savings on the table by not taking advantage of Open Season to review their healthcare coverage and ensure they receive the most out of their benefits for themselves and their families.
The Director of the U.S. Office of Personnel Management noted that Open Season is an opportunity for enrollees to review their healthcare coverage and ensure they receive all of their benefits for themselves and their families.
Therefore, you need to ask yourself how your family needs have evolved over the past year. Then take advantage of the Open Season enrollment period to conduct a wellness or financial check-up to make an informed selection that will provide you with the finest care possible for now and into the future.
This intervention is considered the tax breaks they could get through the Federal Flexible Spending Account Program (FSAFEDS). According to the Office of Personnel Management (OPM), federal employees can save money by putting away a yearly pre-tax amount estimated to pay out-of-pocket expenses for health, dental, and vision expenses, and dependent care.”
The Office of Personnel Management estimates that in 2022, fewer than 20% of government workers will participate in the FSAFEDS program. During the open season, federal employees can contribute pre-tax money to their health care flexible spending accounts or dependent care flexible spending accounts under the FSAFEDS program.
All you need during the open season is the FSAFEDS choices.
Enroll in or reenroll in a Limited Expense Health Care FSA (LEX HCFSA), a Dependent Care FSA (DCFSA), and a Health Care Flexible Spending Account (HCFSA). Reenrolling will keep your account(s) active for the subsequent year.
NOTE
Re-enrollment in either the HCFSA or the LEX HCFSA for the following year is required to be eligible to carry over your fund from the HCFSA or LEX HCFSA plan into the following year’s account. Only DCFSAs are ineligible for carryover.
Contact Information:
Email: [email protected]
Phone: 8668727470
Bio:
Mark Zimmerman, Sr currently is the Managing Member of Aurifex Financial Group, LLC. Aurifex Financials mission is to help clients realize their vision of living life on their own terms by providing credit repair, financial counseling, insurance solutions, and money lending services. This is accomplished by using a holistic approach. After hanging up his uniform after 22 years of service in the military, Mark still had a desire to help others, so he created Aurifex Financial.As part of Accredited Financial Counselor (AFC) credentials, Mark had to obtain and document over 1000 hours of helping others which was accomplished by helping hundreds through a local non-profit. As an independent Insurance Agency, Mark is licensed in property and casualty, home, business, health, Medicare, life, and annuity products.
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