What’s New?
- Benefits Calendar Of Events
- The Federal Benefits Open Season Begins November 9th!
- The 2010 Rates Announced For The Federal Employees Health Benefits (FEHB) Program!
- The 2010 Rates Announced For The Federal Employees Dental And Vision Insurance Program (FEDVIP)!
- The 2010 IRS Limits Remain The Same For The Thrift Savings Plan (TSP)!
- New Legislation Signed By President Obama!
Topics Of Interest:
Where Do I Go If I Have Questions About My Benefits?
1. BENEFITS CALENDAR OF EVENTS
2. THE FEDERAL BENEFITS OPEN SEASON BEGINS NOVEMBER 9TH!
The following three programs will be participating in this year’s open season for the 2010 plan year: 1) Federal Employees Health Benefits (FEHB) Program; 2) Federal Employees Dental and Vision Insurance Program (FEDVIP); and 3) Flexible Spending Accounts (FSA) Program. The open season will run November 9, 2009 through December 14, 2009. You should read the Open Season Announcement thoroughly for information pertaining to each program.
Please remember that there are no longer open seasons for the Thrift Savings Plan (TSP). You may start, stop, or change your TSP contributions at any time via myPay (DFAS), provided you are eligible to participate in the TSP.
3. THE 2010 RATES ANNOUNCED FOR THE FEDERAL EMPLOYEES HEALTH BENEFITS (FEHB) PROGRAM!
The new 2010 rates for the FEHB Program are now available on the Office of Personnel Management (OPM) website. The plan brochures are also now available on the OPM site.
4. THE 2010 RATES ANNOUNCED FOR THE FEDERAL EMPLOYEES DENTAL AND VISION INSURANCE PROGRAM (FEDVIP)!
The new 2010 dental and vision rates for FEDVIP are now available on the OPM website. The plan brochures for dental and vision are also now available on the OPM site.
5. THE 2010 IRS LIMITS REMAIN THE SAME FOR THE THRIFT SAVINGS PLAN (TSP)!
The 2010 IRS annual limits remain as they were for 2009. For regular TSP contributions, the annual limit is $16,500. If you are covered by the Federal Employees Retirement System (FERS), you could lose valuable matching Agency TSP contributions by reaching the limit before the end of the calendar year. If you want equal payments deducted over the calendar year for 26 pay periods, and you are currently contributing $635 each pay period, you don’t need to do anything. Your current contributions will continue. On the other hand, if you are currently contributing a lesser or higher amount, but want equal payments withheld over the course of the year that will equate to $16,500, you must enter your election of $635 in myPay (DFAS). If you expect to enter your myPay (DFAS) election for 2010 between December 6- 19*, 2009, your election will be effective on December 20th, the first pay period for 2010. If your election is entered after December 19th, you will need to adjust your election amount. To determine the adjusted amount, use the Elective Deferral Calculator on the TSP website. If you have additional questions, refer them to your Benefits Contact. (*It is recommended that you enter your election by December 18th, if you want to ensure an effective date of December 20th.)
The 2010 IRS limit for TSP Catch-up contributions remains at $5,500. Check out our December newsletter next month for information on making TSP Catch-up contributions.
6. NEW LEGISLATION SIGNED BY PRESIDENT OBAMA!
On October 28, 2009, President Obama signed legislation which allows the following: 1) agencies to re-employ Federal retirees on a limited, part-time basis without offset of annuity; 2) employees covered under the Federal Employees Retirement System (FERS) to initially credit half, and in 2014 all, of their unused sick leave toward retirement; and 3) former Federal employees covered under FERS who withdrew their contributions from the retirement trust fund, and waived retirement credit for those years of service, to redeposit their earlier contributions, plus interest, upon reemployment with the Federal government.
7. USE OR LOSE ANNUAL LEAVE REMINDER!
This is just a reminder that the 2009 leave year ends on January 2, 2010. Use or lose annual leave must be officially scheduled with your supervisor no later than November 21, 2009, and used no later than January 2, 2010. For most employees, a maximum of 240 hours may be carried over from one leave year to the next; however, those employees in the Senior Executive Service have a maximum of 720 hours that may be carried over from one leave year to the next.
8.WHAT IS THE DIFFERENCE BETWEEN A FLEXIBLE SPENDING ACCOUNT (FSA) AND A HEALTH SAVINGS ACCOUNT (HSA)?
A Flexible Spending Account (FSA) is an employee benefit that allows you to set aside money, on a pre-tax basis, for certain health care and dependent care expenses. There are three types of FSA accounts: 1) Health Care FSA (HCFSA); 2) Limited Expense Health Care FSA (LEX HCFSA); and 3) Dependent Care FSA (DCFSA). If you wish to enroll in an FSA for the 2010 plan year, you must make your annual election during the open season on the FSAFEDS website. You may also enroll by calling 877-372-3337 (TTY: 1-800-952-0450). Your election amount is divided into allotments based on the number of pay dates in the plan year. Every pay date, an allotment is deposited directly into your FSA account. Expenses on your account for the 2010 plan year must be incurred by March 15, 2011; otherwise, your unused balance is forfeited.
A Health Savings Account (HSA) (OPM) is an investment account available only to members who enroll in a High Deductible Health Plan (HDHP) under the Federal Employees Health Benefits (FEHB) Program (OPM). Your HDHP credits a portion of your premium to the HSA. You also have the option to make pre-tax contributions to the account. The funds in your HSA can be used to pay for your plan deductible and/or qualified medical expenses that do not count towards your deductible. These accounts earn interest and roll over any remaining balance from year to year. The funds are yours to keep whether you change plans, leave Federal service or retire. Withdrawals can also be used for non-medical expenses. However you will be subject to a 10% penalty if you are under age 65.
Important Note:You cannot have both a HCFSA and an HSA.
9. WHY DO I NEED A myPAY PIN?
It is very important to have access to your myPay account so that you can view your Leave and Earnings Statement each pay day. You must also use myPay to make changes to your home address, TSP contributions, direct deposit of pay, allotments, and Federal and state tax withholdings. Additionally, all open season health insurance elections must be accomplished using myPay. If you have misplaced your myPay PIN, you may request a new one in one of two ways. The first way is to select “New Pin” on the myPay (DFAS) website. Please make sure you use the “Go” button to finalize your request. Using this method your PIN will be mailed to your current address of record within 7 to 10 business days.
If you need it sooner, your second option is to send a fax to 216-367-3549. You will need to include in your request your name, a daytime phone number, and a copy of your NIH ID, and you must sign the fax. Upon receiving your fax, the Defense Finance & Accounting Service (DFAS) will reset your PIN using the last 5 numbers of your SSN as your temporary PIN. You will not receive a notice from DFAS. Simply go to myPay (DFAS) and log in within 3 days using your temporary PIN. Upon logging in, you will be prompted to reset your PIN.
If you encounter problems with your PIN or technical issues using myPay (DFAS), contact the DFAS Centralized Customer Support Unit toll-free at 1-888-332-7411. This support line is available Monday through Friday, 7:00 A.M. to 7:30 P.M. Eastern Standard Time. The Centralized Customer Support Unit can provide assistance on how to use the options available to you in myPay. They will also provide support for establishing and changing your PIN.
10. WHERE CAN I FIND INFORMATION ON PAY AND LEAVE?
You can find a wealth of pay and leave information on our website. Additionally, you can find information on the most frequently asked payroll questions.
11. HOW CAN I GET IN TOUCH WITH MY BENEFITS CONTACT?
Your contact in the Benefits and Payroll Liaison Branch will be able to help you with a variety of issues pertaining to the health and life insurance programs, designating beneficiaries, the Thrift Savings Plan (TSP), calculating your retirement annuity estimate, working with you to pay a redeposit for prior civilian service if you previously withdrew your retirement funds, paying a deposit for prior civilian or military service for which retirement deductions were not withheld, etc. To find your benefits contact, review our list of contacts. In addition, the Benefits and Payroll Liaison Branch (BPLB) website has a wealth of information regarding your Federal benefits. Don’t forget to check out the Benefits FAQs section.
Human resource topics not related to your benefits are normally handled by your Client Services Division HR Representative.
