Flexible Spending Accounts

You have 60 days from your entry on duty to sign-up for Flexible Spending Account(s), or until October 1, whichever comes first. Applications for the current calendar year are not accepted from October 1 through December 31. If you wish to enroll after October 1 you will need to do so during open season for the following year.

 

The Federal Flexible Spending Accounts Program (FSAFeds) allows you to pay for certain health and dependent care expenses with pre-tax dollars. You may choose to make a voluntary allotment from your salary to your FSAFEDS account(s). You will not pay employment or income taxes on your allotments and your employing agency also avoids paying employment taxes.

 

FSAs are not carried over from one Plan Year to the next, so each fall during the annual open season, you must make a new election for the upcoming Plan Year.

 

There are three types of FSAs offered by FSAFEDS. Each type has a minimum annual election of $250 and a maximum annual election of $5,000.

Further information on the FSAFEDS Program visit FSAFEDS Website

 

 

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