Plans to Help Save on 2018 Health Insurance Expenses

Enrollees should start thinking about their expenses for next year.  Do you currently participate in the Flex Spending Account?  Do you currently participate in the Productivity Enhancement Program (PEP)?   If you don’t, now is the ideal time to obtain additional information about these cost-saving benefits as enrollment begins October 2, 2017.

The Flex Spending Account is a negotiated employee benefit for State employees.  There are two parts to the FSA; the Health Care Spending Account (HCSAccount) (medical, hospital, laboratory, prescription, dental, vision, hearing expenses, etc. not reimbursed by insurance or benefit plan) and the Dependent Care Advantage Account (DCAAccount) (childcare, eldercare or disabled dependent care, required for an employee or spouse to work).  Both are types of flexible spending accounts that give you a way to pay for your health care expenses or dependent care with pre-tax dollars.  Enrollment in the flexible spending account is voluntary – you decide how much to have taken out of your paycheck.

For more detailed information regarding the Flexible Spending Account programs, including eligibility, enrolling online and calculating your out-of-pocket expenses, please visit www.flexspend.ny.gov or call 1-800-358-7202.

Another program that helps to save enrollees money is the Productivity Enhancement Program (PEP).  PEP allows eligible full and part-time State employees to exchange previously accrued vacation leave and/or personal leave, in return for a biweekly credit, which reduces their share of the New York State Health Insurance Program (NYSHIP) premium.

Eligible CSEA active State members can receive up to a $500 credit ($19.23 biweekly) or $1,000 credit ($38.46 biweekly), determined by salary grade and number of days forfeited.

Review the Planning for Option Transfer documentation and contact your Health Benefits Administrator, usually located in your personnel office, or, if applicable, the Business Service Center if you have questions or to confirm your eligibility for this benefit.