Open Enrollment for HCSA and DCAP for State Employees
If you are a state employee looking to save money on your federal and state taxes, take advantage of the GIC's pre-tax benefits. Open enrollment for Flexible Spending Account (FSA) benefits will take place October 5 through November 13 of 2009 for 2010 calendar year benefits. Current participants MUST re-enroll to receive benefits in 2010.
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Through the GIC's Health Care Spending Account (HCSA), administered by SHPS, active employees can pay for out-of-pocket health care expenses on a pre-tax basis, reducing participants' federal and state income taxes.
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The Dependent Care Assistance Program (DCAP), administered by SHPS, allows employees to pay for certain dependent care expenses with before-tax dollars. Participating in DCAP can significantly reduce your federal and state income taxes.
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