Postal Service employees who want to save money for future medical expenses have several options during this year’s open season, which runs from Nov. 13-Dec. 11.
If you enroll in a high-deductible health plan, you may be eligible to contribute to a health savings account (HSA).
An HSA allows you to pay for current health expenses and save for future medical expenses on a tax deductible or pretax basis. An HSA is yours to keep — even if you change health plans or leave the Postal Service.
Additionally, some plans offer health reimbursement arrangements (HRAs), which are funds you can use to help cover out-of-pocket medical expenses.
If you aren’t eligible for an HSA or HRA, you can sign up for a flexible spending account, which allows employees to set aside money on a pretax basis to pay for health and dependent care expenses.
The Open Season LiteBlue page has more information to help you evaluate your options and make the best choices.