• The U.S. Labor Department issued health savings account (HSA) guidance on October 27 (Field Assistance Bulletin No. 2006-02) in the context of Employee Retirement Income Security Act (ERISA) compliance. The guidance provides answers to the questions that employers most frequently have asked the Department since the first FAB 2004-01 on HSAs was issued. Although FEHB Program HSAs and related High Deductible Health Plans are not subject to ERISA, the guidance is worthwhile background reading for anyone interested in these products.
  • Steve Barr reported in his Washington Post Federal Diary column yesterday that Long Term Care Partners, LLC, the company that provides long term care insurance coverage to federal and postal employees, has launched a website Benefeds.com that beginning Monday Nov. 13, eligible federal postal employees and annuitants can use to enroll in a new federal supplemental dental or vision plan. Long Term Care Partners also manages OPM’s new voluntary payments portal which employees will be able to use to make pre-tax contributions for supplement dental and vision and flexible spending account coverage and to their HSAs.