When is Open Enrollment for Health Care and Dependent Care Flexible Spending Accounts (FSA’s)?
Annual Open Enrollment is held from mid November through mid December with a plan year of January 1 through December 31. Current FSA participants, who wish to continue to participate in the FSA plan, must re-enroll by completing a FSA election form. 13. Can I change my beneficiary at any time? Yes, you can change your beneficiary at any time during the year. You do not have to wait until Open Enrollment or a qualifying event. 14. If my life insurance is fully paid by PGCPS, why do I have to pay taxes in excess of $50,000? The value of Company-paid life insurance coverage in excess of $50,000 is considered by the IRS as taxable income to you. 15. What is the face value of my life insurance that PGCPS provides? In most instances, the face value is two times the annual salary rounded up to the nearest thousand. 16. Who does my family notify to collect life insurance benefits upon my death? Your family will need to contact the Benefits Administration Office. They will need a certified copy
- Can employees stop or change their health care or dependent care flexible spending accounts as a result of the furlough?
- Do I have to re-enroll in the Healthcare and/or Dependent Care Flexible Spending Accounts (FSA) every year?
- When is Open Enrollment for Health Care and Dependent Care Flexible Spending Accounts (FSA’s)?