Dependent Care Spending Account. An employee may designate an amount per calendar year from earnings in which there will be no federal, state and Social Security and Medicare taxes withheld, for dependent care (as defined in Section 125 of the Internal Revenue Code and amended from time to time) to allow the employee to work.
Dependent Care Spending Account. An Educational Support Professional may designate an amount per calendar year from earnings in which there will be no federal, state and Social Security and Medicare taxes withheld, for dependent care (as defined in Section 125 of the Internal Revenue Code and amended from time to time) to allow the Educational Support Professional to work.
Dependent Care Spending Account. If an employee has dependents that need care in order for the employee to work, the employee may use the Dependent Care Account to pay this cost with pre-tax dollars. Expenses must be for an eligible dependent as defined by Federal Income Tax Form 2441 “Credit for Child and Dependent Care Expenses.” An employee may annually contribute up to the maximum allowed under the IRS code.
Dependent Care Spending Account. These accounts allow an employee to set aside tax-free dollars to pay for certain unreimbursed medically related expenses and dependent care expenses. Contact the Benefits Office for enrollment information.
Dependent Care Spending Account. Retiree Medical Plans for Salaried, Hourly and Union employees
Dependent Care Spending Account. Dependent care expenses that qualify under the IRS Code at the IRS Code limit (currently $5,000 per calendar year). Employees are responsible to pay the monthly administrative fee and any increase established by the third-party administrator.
Dependent Care Spending Account. The Employer agrees to offer an employee paid dependent care spending account to bargaining unit members in accordance with section 125 of the internal revenue code.
Dependent Care Spending Account. Up to $5,000 can be set aside on a pre-tax basis to pay your dependent care expenses such as day care and nursery school for children or other eligible dependents. If you enroll in PPO/HSA, if desired, you may enroll in both a HSA and the Limited Purpose FSA. The Limited Purpose FSA allows you to reimburse yourself for eligible dental and vision expenses and eligible medical expenses once you have met the PPO/HSA deductible. The following compares a Health Savings Account to a Flexible Spending Account. If you enroll in the PPO/HSA, it is possible to enroll in both. CBOE Health Savings Account CBOE Flexible Spending Account Tax free contributions Yes Yes Limits Individual: $3,350 Family: $6,750 Individual: $2,550 Family: $2,550 Annual Catch up Contribution age 55+ $1,000 No Earnings on Contributions Yes No Carry over contributions year to year Yes No Portable Yes No Cash outs if no medical expenses Yes but if before age 65 subject to a 20% penalty No Account can be used for out-of-pocket and unreimbursed medical expenses Yes- HSA Qualified Expenses Yes - FSA Allowable Expenses To encourage your healthy lifestyle, CBOE has negotiated discounted rates for individual memberships with several health clubs. Each offers a variety of services and locations. BCBS Fitness Program $25 $0 XSport Fitness $35 $0 Bottom Line Yoga $69 $34 Lifetime Fitness $63 - $110* $28 - $75 Buckingham Athletic Club $100** $65 Chicago Athletic Club $65*** $30 All rates are subject to change. * Range is based on club location. ** Rate contingent on a certain number of employees enrolling ***$65/month with 12-month commitment; cost is $75 with no annual commitment As noted above with BCBS Fitness Program, our medical plan provider Blue Cross Blue Shield, allows access to a network of fitness centers for a low monthly fee of $25. If you are enrolled in a health plan through Blue Cross, no contract is required. With the $35 CBOE reimbursement, your net cost can be $0. To learn more about the facilities in the Blue Cross network sign in to Blue Access for Members (xxxx://xxx.xxxxxx.xxx/login.html) and click “Fitness Program.” As of 07/01/2016 4 All full-time employees are eligible to receive a Health Club reimbursement after completion of one month of continuous service. CBOE will reimburse you up to $35/month toward the cost of any health club , if you meet the following requirements:: • Full-time employee with at least one month of continuous service. • Completion of a Health Assessment (...
Dependent Care Spending Account. Unit members may participate in the Dependent Care Spending Account operated by the College through the Benefits Office, subject to any plan restrictions.
Dependent Care Spending Account. 1) Each participant may allocate from $10.00 to $400.00 per month to a Dependent Care Spending Account. Increases or decreases in the limits will be recommended by the Committee. Money allocated to a Dependent Care Spending Account may be expended on "employment-related" dependent care expenses, as defined in the Internal Revenue Code. As with the Health Care Spending Account, payments for such expenditures will be made directly to the Participants pursuant to claims procedures established by the Committee. Such procedures will provide that claims must be submitted no later than six (6) months after the close of the Plan Year in which the dependent care expenses were incurred.
2) Effective with the Plan year beginning January 1, 2008, the County shall provide a monthly contribution to each participant’s Dependent Care Spending Account based on the employee’s annual salary as follows: Less than $29,999 $375 $30,000-$34,999 $300 $35,000-$39,999 $275 $40,000-$44,999 $200 $45,000-$49,999 $125 $50,000 or more $75 The County contribution towards Dependent Care Spending Account for Local 721 members is subject to an annual limit not to exceed $5 Million Dollars for plan years 2016, 2017 and 2018 (for a total of $15 Million Dollars). Any remaining amount not used in the Plan Year will be returned to the County’s General Fund. Participants in the Options Dependent Care Spending Account will be able to use their account for eligible Child Care and/or Elder Care expenses up to the maximum allowable contribution amount. Participants would be required to sign up for the Dependent Care Spending Account subject to existing administrative rules, IRS regulations, and other requirements governing flexible spending accounts. The implementation of the County contribution towards Options Dependent Care Spending Account shall not change any of the IRS guidelines and/or claims procedures as established by the Committee and outlined in the Health Care and Dependent Care Spending Accounts booklet. The Benefits Administration Committee (BAC) Joint Labor-Management Committee will be responsible for making recommendations regarding the administration of the Dependent Care Spending Account and developing communication materials and election information. The provisions for the Options Dependent Care Spending Account will be provided during the term of this MOU agreement.
