Flexible Benefits
What is the OGB Flexible Benefits plan?
The OGB Flexible Benefits plan enables you to allocate funds for specific benefits before taxation. For instance, through this flexible benefits plan, you can designate a portion of your paycheck to a flexible spending arrangement account prior to it being taxed.
Premium Conversion
Premium Conversion is automatically enabled for all employees of agencies participating in the OGB Flexible Benefits Plan. By enrolling in an OGB health plan, life insurance, or a voluntary/statewide product eligible for pre-tax deductions, employees automatically qualify for the Premium Conversion option. To maintain participation, employees are required to re-enroll in the GPFSA, LPFSA, and DCFSA each year during the Annual Enrollment period.
The chart below describes each Flexible Spending Arrangement and when you should consider choosing that option:
| Option | Description | Consider if | Re-enroll?* |
|---|---|---|---|
| Premium Conversion | Your eligible premiums are paid with pre-tax dollars through payroll deductions. | You want to increase your take-home pay. | No |
| General-Purpose Health Care Flexible Spending Arrangement (GPFSA) | Allows you to pay with pre-tax dollars certain qualifying medical care expenses for you, your spouse, and your eligible dependent children. | You pay out-of-pocket medical expenses, such as health plan co-pays, health plan deductibles, vision expenses, dental expenses, etc. | Yes |
| Limited-Purpose Dental/Vision Flexible Spending Arrangement (LPFSA) | Allows you to pay with pre-tax dollars dental and vision expenses for you, your spouse, and your eligible tax dependent children, while you maintain your eligibility to contribute to your HSA. | You are enrolled in the Pelican HSA775 | Yes |
| Dependent Care Flexible Spending Arrangement (DCFSA) | Allows you to pay with pre-tax dollars eligible dependent care expenses for your child or children under age 13 who reside in your household, or for a spouse, parent, or other dependent who is incapable of self-care and spend at least 8 hours a day in your household. | You pay for the care of your eligible dependent(s) while you are at work. | Yes |
Employees can participate in the General-Purpose Health Care FSA, the Limited-Purpose Dental/Vison FSA or the Dependent Care FSA benefit even if they are not enrolled in an OGB health plan or the Premium Conversion benefit!
FSA COBRA
FSA COBRA is offered to participants in the GPFSA or LPFSA, who have monies left in their FSA account. TASC administers COBRA and FSA COBRA. Once the plan member is termed in the OGB system, an electronic file is sent to TASC, who sends the COBRA Specific Rights Notice Letter directly to the termed participants.