OPEN ENROLLMENT FOR FLEXIBLE REIMBURSEMENT ACCOUNTS ENDS NOV. 30

Open enrollment for 2002 Flexible Reimbursement Accounts (FRAs) - dependent care and medical - began Nov. 1 and will continue through the end of the month.

A special FRA edition of the state's Department of Human Resource Management Spotlight newsletter, which explains the program, has been mailed to each employee's home.

For a Dependent Care Account, employees may set aside pretax dollars through payroll deduction to pay predictable, eligible day care expenses. The minimum annual deduction is $480, and the maximum is $2,500 if married filing separately, or $5,000 if filing as single head of household or married filing jointly.

For a Medical Account, employees may set aside pretax dollars through payroll deduction to pay for predictable, eligible out-of-pocket medical expenses. The minimum annual deduction is $480, and the maximum is $5,000.

To obtain a source book and enrollment form, contact Dave Hollembeak, assistant benefits manager, at dhollemb@odu.edu.

This article was posted on: November 27, 2001