Flexible Benefits Credits Sample Clauses

Flexible Benefits Credits. A. The County shall make the following contributions for employees in a paid status: Employees who participate in a County sponsored medical plan shall receive: $823.00 per month ($411.50/bi-weekly for 24 bi-weeks/year). These amounts are inclusive of the amount set forth above (the higher of $256.00 or the CalPERS statutory minimum. 1. Employees who choose to not participate in a County sponsored medical plan have the following options: a) Employees whose last hire date is prior to November 4, 2010 and have other qualifying medical coverage shall be eligible for the Medical Waiver option to receive: $575.40 per month ($287.70/biweek for 24 biweeks/year). 1) Employees electing not to participate in a County sponsored medical plan and who qualify for the Medical Waiver option must provide evidence of group medical health plan coverage from their spouse/registered domestic partner or another qualifying group medical plan and sign a statement that they are enrolled and covered under another group medical health plan. For medical coverage, if an employee elects to opt out of coverage offered by the County, he/she must provide proof of “minimal essential coverage” as defined by the Affordable Care Act. In addition, employees shall complete/sign an acknowledgement that medical coverage was offered and declined. Evidence is defined as a current dated certificate of coverage, plan enrollment card, policy, etc. Notice of a Benefits Enrollment form electing the Medical Waiver option showing other qualifying group medical coverage shall be received by the Human Resources Department within sixty (60) days from date of hire, and annually during Open Enrollment. b) Employees whose last hire date is on or after November 4, 2010 may decline medical coverage in writing as part of their election each plan year. Employees who elect to decline medical coverage shall not receive flexible benefit credits. 2. Employees who fail to timely elect medical coverage or who fail to decline medical coverage in writing will be placed in the lowest-priced employee-only PPO medical plan available. 3. If any flexible benefit credits remain after deduction of elected benefits, remaining flexible benefit credits may be taken in cash.
Sample 1
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Related to Flexible Benefits Credits

  • Flexible Benefits Insurance Program

  • Flexible Benefits Plan A flexible benefits plan, which is in accordance with Section 125 of the Internal Revenue Code, was implemented for eligible employees covered by this Agreement on October 1, 1990.

  • Flexible Benefit Plan The District will maintain, at no cost to the employee, a flexible spending benefit plan pursuant to Section 125 of the Internal Revenue Code, with operating procedures determined by the District in accordance with IRS regulations. This plan may be used for favorable income tax treatment of the employee’s health and dental premium contributions, deductibles, co-insurance amounts, other unreimbursed medical expenses, and dependent care assistance.

  • Additional Benefits/Card Enhancements The Credit Union may from time to time offer additional services to your account, such as travel accident insurance, at no additional cost to you. You understand that the Credit Union is not obligated to offer such services and may withdraw or change them at any time.

  • 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.

  • 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).

  • 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.

  • Sole Benefit The rights and benefits set forth in this Agreement and the other Loan Documents are for the sole and exclusive benefit of the parties hereto and thereto and may be relied upon only by them.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Benefits   on In the event of a lay-off of a full-time employee, the Hospital shall pay its share of insured benefits premium up to three (3) months from the end of the month in which the lay-off occurs or until the laid off employee is employed elsewhere, whichever occurs first.

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