B enefit Entitlement Health Spending Account Sample Clauses

B enefit Entitlement Health Spending Account. ( a) Subject to hours excluded for calculation found in Appendix C, in order to be eligible for benefits under the agreement for the group benefit plan, employees must have worked or have been scheduled to work for a minimum of 30 hours per week consistently during the three month period prior to joining the group benefit plan. ( b) To determine ongoing eligibility, the Employer will conduct quarterly reviews (March 31s t, J une 30t h, September 30t h and December 31st) of the hours worked versus eligibility requirements for employees on the group benefits plan. If an employee's weekly average hours of work fall below 30 for the quarter being considered, she will be issued a letter advising her of this and of the causes. Should the employee not increase her work hours during the next quarter such that the six month average ( three + three) of eligible hours does not reach the 30 hour weekly average minimum, her Effective J anuary 1, 2019, eligible employees (as identified in Article 23.4) are entitled to participate in a health s pending account, according to the following: Effective January 1, 2019, eligible employees (as identified in Article 23.4) are entitled to participate in a health spending account, according to the following: ( a) The amount for the account is $375 to be credited each January 1st and July 1st in accordance with the employee’s eligibility as per Clause 23.4; ( b) Eligible expenses are as prescribed by the Income Tax Act for eligible medical expenses, and include dependent expenses; ( c) The health spending account will be administered by a third party, who may require receipts or other proof of expense; and ( d) Amounts credited to the health spending account will only terminate two years after the date of deposit: (1) when employment terminates for any reason; (2) if the employee becomes eligible for the Health and Welfare Plan prescribed in A rticle 23.2; and (3) if the employee ceases to qualify under Article 23.4(b) for receipt of the health spending account.
Sample 1

Related to B enefit Entitlement Health Spending Account

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

  • Health Spending Account (HSA Wellness Spending Account (WSA)/Registered Retirement Savings Plan (RRSP) utilization rates;

  • Health Care Spending Account After six (6) months of permanent employment, full time and part time (20/40 or greater) employees may elect to participate in a Health Care Spending Account (HCSA) Program designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but such savings are not guaranteed. The HCSA Program allows employees to set aside a predetermined amount of money from their pay, not to exceed the maximum amount authorized by federal law, per calendar year, of before tax dollars, for health care expenses not reimbursed by any other health benefit plans. HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance is forfeited and cannot be recovered by the employee.

  • Benefit Entitlement Regular full-time employees are entitled to all benefits of this Agreement.

  • Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Flexible Spending Accounts Employees in the unit shall have access to the County’s flexible spending account program, which provides employees with the options of dependent care assistance benefits with a calendar year maximum of $5,000, and medical expense reimbursement benefits with a calendar year maximum of $2,400. The County shall maintain this plan in compliance with IRC §125. Employee premiums for flexible spending account benefits shall be deducted on a pre-tax basis from employee pay.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.