Blue Cross Blue Shield FEP Vision
Section 2 Enrollment
Section 2 Enrollment
FSAFEDS/High Deductible Health Plans and FEDVIP
If you are planning to enroll in an FSAFEDS Health Care Flexible Spending Account (HCFSA) or Limited Expense Health Care Flexible Spending Account (LEX HCFSA), you should consider how coverage under a FEDVIP plan will affect your annual expenses, and thus the amount that you should allot to an FSAFEDS account. Please note that insurance premiums are not eligible expenses for either type of FSA.
If you have an HCFSA or LEX HCFSA FSAFEDS account and you haven’t exhausted your funds by December 31st of the plan year, FSAFEDS can automatically carry over up to $570 of unspent funds into another health care or limited expense account for the subsequent year. To be eligible for carryover, you must be employed by an agency that participates in FSAFEDS and actively making allotments from your pay through December 31. You must also actively re-enroll in a health care or limited expense account during the NEXT Open Season to be carryover eligible. Your re-enrollment must be for at least the minimum of $100. If you do not re-enroll, or if you are not employed by an agency that participates in FSAFEDS and actively making allotments from your pay through December 31st, your funds will not be carried over.
Because of the tax benefits an FSA provides, the IRS requires that you forfeit any money for which you did not incur an eligible expense and file a claim in the time period permitted. This is known as the “Use-It-Or-Lose-It” rule. Carefully consider the amount you will elect.
For a health care or limited expense account, each participant must contribute a minimum of $100 to a maximum of $2,850.
Current FSAFEDS participants must re-enroll to participate next year. See www.fsafeds.com or call 1-877-FSAFEDS (372-3337) or TTY: 1-866-353-8058. Note: FSAFEDS is not open to retired employees, or to TRICARE eligible individuals.
If you enroll or are enrolled in a high deductible health plan with a health savings account (HSA) or health reimbursement arrangement (HRA), you can use your HSA or HRA to pay for qualified dental/vision costs not covered by your FEHB and FEDVIP plans. You will be required to submit your claim to the FSAFEDS Health Care Flexible Spending Account (HCFSA) or Limited Expense Heath Care Flexible Spending Account (LEX HCFSA).
Using your FSA pre-tax dollars for your eye care and eyewear needs is a great way to get more out of your benefit dollar. And BCBS FEP Vision will submit your eligible FSAFEDS out-of-pocket expenses electronically, so you don’t have to. Using your FSAFEDS account for your eye care and eyewear expenses is simple:
If you have an HCFSA or LEX HCFSA FSAFEDS account and you haven’t exhausted your funds by December 31st of the plan year, FSAFEDS can automatically carry over up to $570 of unspent funds into another health care or limited expense account for the subsequent year. To be eligible for carryover, you must be employed by an agency that participates in FSAFEDS and actively making allotments from your pay through December 31. You must also actively re-enroll in a health care or limited expense account during the NEXT Open Season to be carryover eligible. Your re-enrollment must be for at least the minimum of $100. If you do not re-enroll, or if you are not employed by an agency that participates in FSAFEDS and actively making allotments from your pay through December 31st, your funds will not be carried over.
Because of the tax benefits an FSA provides, the IRS requires that you forfeit any money for which you did not incur an eligible expense and file a claim in the time period permitted. This is known as the “Use-It-Or-Lose-It” rule. Carefully consider the amount you will elect.
For a health care or limited expense account, each participant must contribute a minimum of $100 to a maximum of $2,850.
Current FSAFEDS participants must re-enroll to participate next year. See www.fsafeds.com or call 1-877-FSAFEDS (372-3337) or TTY: 1-866-353-8058. Note: FSAFEDS is not open to retired employees, or to TRICARE eligible individuals.
If you enroll or are enrolled in a high deductible health plan with a health savings account (HSA) or health reimbursement arrangement (HRA), you can use your HSA or HRA to pay for qualified dental/vision costs not covered by your FEHB and FEDVIP plans. You will be required to submit your claim to the FSAFEDS Health Care Flexible Spending Account (HCFSA) or Limited Expense Heath Care Flexible Spending Account (LEX HCFSA).
Using your FSA pre-tax dollars for your eye care and eyewear needs is a great way to get more out of your benefit dollar. And BCBS FEP Vision will submit your eligible FSAFEDS out-of-pocket expenses electronically, so you don’t have to. Using your FSAFEDS account for your eye care and eyewear expenses is simple:
- Visit your provider for your vision health examination and eyewear
- Pay any out-of-pocket expenses
- Blue Cross Blue Shield FEP Vision will submit your HCFSA eligible expenses for reimbursement for you. If you make additional purchases or receive additional services outside of your benefits, please submit those expenses directly to FSAFEDS.