Record inflation is impacting all aspects of federal employees’ lives, including higher Federal Employees Health Benefits Program premiums. With an 8.7% average increase in enrollee share, the largest in the last 10 years, surefire ways to save money this Open Season should be universally embraced.
There is one way all active federal employees can save on some out-of-pocket costs: Flexible Spending Accounts. FSAs allow you to contribute pre-tax dollars for qualified health care expenses in the upcoming year, which saves you about 30% of the cost.
