Shows & Panels
Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- American Readiness: Renewable Power and Efficiency Technologies
- Ask the CIO
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- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
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- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- The New Generation of Database
- Reimagining the Next Generation of Government
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Changes coming in 2013 to flexible spending accounts
Friday - 11/30/2012, 3:13pm EST
As federal employees weigh health plan options during Open Season, registered employee benefits consultant Ed Zurndorfer advises feds not to overlook flexible spending accounts.
"What employees have to keep in mind is as they're choosing their health care plan for 2013, there is no health insurance plan out there that's going to pay for everything. Employees invariably are going to be paying something out of pocket for something," Zurndorfer said in an interview with The Federal Drive with Tom Temin and Emily Kopp.
Flexible spending accounts are the best way to pay for these out-of-pocket costs, he said. Federal employees can open two types of flexible spending accounts: One for dependent care to use for child care and adult day care, and one for health care spending. These accounts are pre-tax dollars taken out of feds' salaries.
New account limits
The Affordable Care Act lowered the limit for health care flexible spending accounts to $2,500 starting Jan. 1, 2013. The previous limit was $5,000.
The limit for dependent care accounts remains $5,000.
No over-the-counter meds
Previously, feds could use their flexible spending accounts to pay for over-the- counter medications. Starting Jan. 1, 2013, they can only use their accounts for prescription drugs.
Use it or lose it
For flexible spending accounts in 2013, feds do not have to use all their funds by Dec. 31, 2013. The deadline to use 2013 funds is March 13, 2014.