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Treasury Changes Timing for Processing Direct Deposits

Employees paid by IBC will receive their pay checks on their EFT pay date.

Federal Benefits Open Season

Open Season is November 11 – December 9, 2024

This is the time of year when employees can enroll in or change health benefits, supplemental dental and vision coverage, and elect a flexible spending account for the 2025 calendar year. Premium rates can change from year to year – it is important to review your coverage to ensure you are on the plan that meets your medical needs and budget. The full listing of FEHB premiums is available on OPM’s website.  

Changes and new elections are effective on January 12, 2025. Open Season changes must be made online on the Employee Express website.

FEHB: Continuing the Going Green Initiative

Paper copies of health plan brochures will not be mailed automatically to FEHB program members. Remember that copies of all FEHB plan brochures are available on the OPM plan information website. 

Your current health plan provider will mail you a notice about their Open Season package. This will highlight updates to the plan and provide information on how to obtain the full plan brochure.

Changes and new elections are effective on January 1, 2025.

Compare plans and make elections or changes on the BENEFEDS site.

Visit the OPM Plan Comparison Tool for FEDVIP.

Your FSA elections are effective on January 1, 2025.

Enroll in the Flexible Spending Accounts. 

REMEMBER – Current participants must re-enroll.

  • The maximum annual election for a Health Care Flexible Spending Account and the Limited Expense Health Care Flexible Spending Account is $3,300 for the 2025 benefit period.
  • Carryover has been adopted for Health Care and Limited Expense Health Care FSAs. Participants who have enrolled in one of these FSAs will be able to carry over a maximum of $640 of unspent funds from 2024 into 2025, providing participants re-enroll for the 2025 benefit period. This amount will increase to $660 of unspent funds from 2025 into 2026, providing participants re-enroll for the 2026 benefit period.
  • The minimum election for the flexible spending accounts is $100 for the 2025 benefit period.
  • The maximum annual election for a Dependent Care Flexible Spending Account is $5,000 for the 2025 benefit period. There is no carryover for a Dependent Care FSA account.

 

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