Reasons to enroll in an FSA
Need an easy way to save money? During Open Enrollment—Nov. 1–15—you can enroll in a Flexible Spending Account (FSA). You’ll set aside pretax dollars from your paycheck, then use it to pay for eligible health care or dependent day care expenses. Since you’re not paying federal or FICA taxes on your FSA money, you get a huge tax savings. Here’s why you should consider enrolling in an FSA during Open Enrollment: Save money. FSA contributions are pre-tax, resulting in a significant savings. Orthodontia. Contribute up to $2,750 to a Health Care FSA and pay… Read More
Attend an Open Enrollment education session
Open Enrollment for next year’s benefits is coming up, Nov. 1–15. Get a head start on understanding your 2021 benefits by attending an upcoming information session. Join your Benefits team for a live Zoom meeting to: Learn more about your 2021 benefit choices Find out about the updated PeopleSoft Open Enrollment tool See what’s changing next year Discover why it’s important that you participate in Open Enrollment Ask questions and get assistance Register for an Open Enrollment information session. The live sessions are offered on a variety of days and times to accommodate your… Read More
Look for Open Enrollment information in your mailbox
It’s in the mail Look for Open Enrollment information Check your home mailbox for important benefits and Open Enrollment information mailed recently to the address you have listed in PeopleSoft. Open Enrollment takes place Nov. 1 – 15 and you can start preparing now. What’s changing? New online enrollment tool: This year, we’ll be using an updated PeopleSoft tool featuring a new look and feel and a mobile-friendly interface—making it easier to complete Open Enrollment using your smart phone or tablet. For details, step-by-step instructions, and screenshots, watch the Completing Open Enrollment… Read More
Love your King County employee benefits?
Want to help spread the word about the great employee benefits King County provides? The Benefits Team is looking for employees who utilize and love their employee benefits. If this is you—and you’d like to find out even more and help your coworkers learn about their benefit choices during Open Enrollment, Nov. 1–15, let us know! Later this month, you will be provided with virtual training and materials, so that you can encourage participation in Open Enrollment, answer questions, and offer support to the people you work with. Participation is strictly voluntary, on… Read More
Make the most of your FSAs during the pandemic
The coronavirus pandemic has impacted many aspects of daily life, and may have affected the amounts you are spending on day care and health care. The following reminders can help you make the most out of your Flexible Spending Accounts (FSAs), which allow you to set aside pre-tax money for day care and medical expenses. Day Care FSAs With many schools and daycare facilities closed, many employees are struggling to find a provider who can watch their children during working hours. If your day care expenses have changed due to the COVID pandemic, you… Read More
Routine dental care again allowed
Dentists began seeing patients for routine visits again on May 19. Prior to reopening, dental offices have implemented new protocols, including additional Personal Protective Equipment (PPE), to further protect the health and safety of you and your family members. Some employees have reported that their dentists are charging them for the additional PPE needed to prevent the transmission of COVID 19. Delta Dental is now paying dentists an additional amount for each visit to cover the cost of PPE. Covered members are not required to pay any additional charges for PPE. Delta… Read More
Use new W-4 to change your tax withholding
Form W-4 is used to let your employer know how much federal income tax to withhold from your pay. The IRS recommends completing a new Form W-4 when your personal or financial situation changes. This year, the IRS redesigned Form W-4 to reduce complexity and improve accuracy. Go to the IRS website for information about Tax Withholding, FAQs on the 2020 Form W-4, and a Tax Withholding Estimator. If you would like to adjust the amount withheld from your King County paycheck for tax purposes, please use PeopleSoft to update your W-4: Sign in to PeopleSoft…. Read More
FSA rules relaxed in response to COVID-19
During Open Enrollment last year, you may have elected a Flexible Spending Account (FSA) to have money taken from your paycheck, pretax, to pay for dependent day care or certain medical expenses not covered by your health plan. Now, your expenses may have changed due to the coronavirus pandemic, so the IRS has relaxed rules pertaining to Health Care and Dependent Day Care FSAs. These changes are effective through the end of 2020. Increase or decrease your FSA contribution If you have a Health Care or Dependent Day Care FSA, you can… Read More
HRA VEBA Plan webinars, June 9 and June 11
Employees are invited to learn about their HRA VEBA Plan benefits in an online webinar. Topics will include plan features, using the plan, covering expenses, investment options, and getting help. A Health Reimbursement Arrangement (HRA) in a Voluntary Employees’ Beneficiary Association (VEBA) provides a tax-free rollover of leave cash-outs to an HRA VEBA Trust at retirement. These funds are used to pay for eligible out-of-pocket health care expenses and premiums. Employees who retire from a group that voted to participate in either or both of the HRA VEBA options, will automatically be… Read More
New FSA rules in response to COVID-19
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains important provisions that affect Flexible Spending Accounts (FSAs). In addition, under existing rules, certain changes in your situation—called “qualifying life events”—may allow you to increase or decrease contributions or enroll or disenroll from your FSAs. For example, if your spouse loses a job due to the COVID-19 pandemic, or any other reason, and can no longer participate in their employer’s FSA plan, you can enroll in King County’s Health Care and Day Care FSAs or increase… Read More
Employee News 