Good news for employees
FLEX$ will be changing from calendar year to fiscal year, to coincide with insurance changes. Members currently enrolled in FLEX$ can enroll in this secondary plan at the same time.
Open enrollment is now going on for FLEX$ plan year July 1, 2009 to June 30, 2010. Employees can do a paper enrollment, or enroll online through their myPEHP account. Deadline to enroll is June 19, 2009.
How the plan will work
Current Year Plan Will run as normal through December 31, 2009, with the grace period through March 15, 2010. From January 1, 2010 to June 30, 2010, a short plan will run for six months, with a grace period through September 15, 2010.
New Fiscal Year Plan Will run from July 1, 2010 through June 30, 2011.
The maximum for the new fiscal year plan will be $7500 if you have two accounts, the combined total cannot exceed $7500; IRS restrictions limit dependent day care amounts to $5000 per year.
Here is an example of how the plans will work.
● If the limit for your FLEX plan is now $5000, you can only sign up for an additional $2500.
● If the limit for your day care plan is now $5000, you cannot sign up for an additional amount until the 2010 open enrollment year.
Members cannot access the new account until July 1, 2009. For employees with two accounts, the first account will be used until the money is depleted, then the new account will be used. Both accounts will be shown on your paycheck and two payments will be deducted. Deductions on your current account will end on December 31, 2009. Deductions on any money added to your new account on July 1, 2009 will end on June 30, 2010. PEHP will ensure that no one goes over their maximum.