Now that federal employees participating in FSAFEDS can resume submitting claims, here are some important reminders.
Beginning Sept. 1, federal employees can resume submitting claims under FSAFEDS after a month-long blackout period. Processing of paperless reimbursement claims and pending dependent care claims submitted through a revamped FSAFEDS.com will resume on Thursday, Sept. 8.
Not enrolled in any flexible spending accounts (FSAs)? Consider how much money they could save you annually. By using pre-tax dollars to pay for eligible health care and dependent care expenses, you can both reduce your taxes and save as much as 40 percent of what you would normally pay with after-tax dollars.
You may be surprised of the breadth of eligible expenses for reimbursements. They include doctor’s visits, prescriptions, eyeglasses, sunscreen and even first-aid kits. Did your child attend summer day camp, day care or have a babysitter? Those are also examples of eligible expenses. See the full list.
NTEU played a major role in securing FSAs for federal employees, but our work didn’t stop there. In 2003, NTEU staved off a proposal to charge employees administrative fees to participate in the program. And when NTEU was informed of the blackout earlier this summer, the union immediately reached out to the Federal Employee Education and Assistance Fund, alerting the charity that some employees might need no-interest loans if they are financially stretched thin by the delay in reimbursements.