Flexible Spending Accounts Program: Sept. 21 – Nov. 13

October 2009

The 2009 Open Enrollment/Transfer Period for the Flexible Spending Accounts Program is September 21 – November 13. This program includes Health Care and Dependent Care Assistance. Re-enrollment is required each year during the annual open enrollment period. If you are currently enrolled in an FSA plan, re-enrollment forms were sent to your address on file with the plan.

All forms must be submitted by Friday, November 13, 2009.

All changes made during this period will become effective January 14, 2010.

Health Care Flexible Spending Accounts (HCFSA) Program allows you to put money aside on a pre-tax basis for eligible out-of-pocket medical expenses that are not covered by your health, prescription, dental, or vision care insurance plan, while reducing your taxable income. Annual re-enrollment is required.

Dependent Care Assistance Program (DeCAP)
is a way to help pay for expenses to care for your child(ren) or other eligible dependents, also with pre-tax dollars, while you and your spouse work or attend school full-time. Annual re-enrollment is required.

MSC Health Benefits Buy-out Waiver Program allows eligible employees who have non-City group health coverage to receive a yearly cash incentive for waiving their City paid health benefits. An employee will receive $1,000 annually for waiving family health coverage or $500 annually for waiving individual health coverage. Payments are made semi-annually in June and December and will be taxable to the recipient. No retroactive participation is allowed. Once enrolled, you will remain in the program until you reinstate your City health benefits. Annual re-enrollment is not required.

MSC Premium Conversion Program allows for health care premiums to be taken on a pre-tax basis. Enrollment in this plan is automatic, but you may choose to have post-tax deductions. Employees may change from pre-tax payments to post-tax (or vice versa) during open enrollment.

Click here for information and forms for the FSA Program or call 212-306-7760.