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 Benefits Plan. The School District of Xxx County shall offer its 30 employees an IRS Section 125 qualified Flexible Benefits Plan (Flex Plan). Voluntary benefits 31 included in the Flex Plan may be purchased pre-tax through payroll deduction or with Flex Credits.
(1) Enrollment: Enrollment in the Flex Plan is automatic. New employees eligible for benefits 34 have the option to waive participation in the Flex Plan within the first thirty (30) days of 35 employment. Regular employees eligible for benefits are allowed to change their Flex Plan status 36 during the annual enrollment period or within sixty (60) days following a qualified family status 37 change. Enrollment in any individual benefit included in the Flex Plan remains binding until the 38 employee changes his/her benefit election. Such changes may only be made during the Open 39 Enrollment period for the benefit or within thirty (30) days (to add a benefit) or within sixty (60) 40 days (to drop a benefit) following a qualified family status change, and must be made on the 41 appropriate enrollment change form. Changes made during the Open Enrollment period will 42 become effective the first day of the new benefit plan year.
Flexible Benefits Plan. The Employer agrees to institute flexible spending accounts for interested employees. Sometimes referred to as a cafeteria plan, flex plan, or a Section 125 plan – a Flexible Benefits plan lets the participant set aside a certain amount of their paycheck into an account – before paying taxes. During the year participants have access to this account for reimbursement of expenses they regularly pay for, such as healthcare and dependent daycare. Reimbursable expenses can include: • Deductibles, Co-pays, and Prescription Drugs • Expenses not covered by insurance • Dental Services and Orthodontics • Eyeglasses, Contacts, Solutions & Eye Surgery • Adult & Childcare Services • Other plan qualified expenses
Flexible Benefits Plan. 9.4.1 The College agrees to arrange and administer the Flexible Benefits Plan. The selection of benefit carriers is subject to agreement of the Union. Benefits covered include: • medical • life insurance • accidental death and disablement • extended health • dental • orthodontic • vision care • elder care • disabled dependent care • medical and dental claims not eligible for coverage under other aspects of the flexible benefits plan • recognized alternate professional health care coverage not eligible for coverage under other aspects of the flexible benefits plan and • other benefits as may be added by mutual consent.
Flexible Benefits Plan. All employees shall be eligible to participate, at no cost to them, in a flexible benefits plan to be established by the County. Such plan shall include segregated IRS accounts for child care and medical expenses.
Flexible Benefits Plan. The specific coverage in each of the health care options shall be mutually determined by the Board and the employee organization(s) representing covered employees, and shall be provided in writing each year to the employees.
Flexible Benefits Plan. The City shall provide a contribution to the City’s Flexible Benefits Plan (125 Plan) for each full-time employee in regular or probationary status who is enrolled in one of the CalPERS medical insurance plans offered by the City. Employees can use this contribution to offset the cost of benefits purchased through the Plan. The value of any flexible benefit allowance provided by the City shall be determined as follows: Each year, the City will review the premium charged for employee + 2 or more coverage (family coverage) under the Blue Shield HMO and Kaiser health insurance plans to determine the plan to be used for determining the amount of the City’s contribution to the 125 Plan. Contributions will be the greater of A or B as defined below:
A. Eligible employees shall receive an allowance equal to one hundred percent (100%) of the premium cost for health insurance coverage based on the employee’s plan selection and participation level eligibility (e.g., Employee only coverage, Employee + 1 coverage, or Employee + 2 coverage), less the amount of any contribution provided under Section 6.02 above. The City’s maximum contribution under this Section shall not exceed the cost of one hundred percent (100%) of the premium, excluding United Health Care as determined by the employee’s participation level, less the City’s contribution towards medical benefits under PEMHCA, except that, in no event shall the sum of the City's contributions pursuant to the provisions of Sections 6.02 and 6.03 of this Memorandum of Understanding exceed one hundred (100%) of the premium cost for the PERS medical insurance plan in which the employee is enrolled.
B. The City shall continue to provide Flexible Benefit Allowances as provided in this Section unless amended or repealed by the City Council.
C. Contributions to an employee's Flexible Benefit Account shall be used only for payment of those benefits that are available through the City’s Flexible Benefits Plan. The City will not treat any contributions made to the Flexible Benefits Plan as compensation subject to income tax withholding unless the Internal Revenue Service and/or the Franchise Tax Board indicates that such contributions are taxable income subject to withholding. Each employee shall be solely and personally responsible for any federal, state, or local tax liability of the employee that may arise out of the implementation of this Section or any penalty that may be imposed therefore.
D. Each employee shall file an el...
Flexible Benefits Plan. The District will provide a cafeteria plan or flexible benefits plan which will permit pre-tax premium copayments for all fringe benefits which constitute “qualified benefits” permitted by the IRS to be offered on a pre-tax basis through a cafeteria plan. The plan will also permit eligible employees to choose between group medical coverage and the Cash Payment in Lieu of Medical/Hospitalization Insurance described in Sections 2(a) & (b) above and permit employee and employer Health Savings Account contributions, subject to applicable tax requirements.
Flexible Benefits Plan. The Board shall establish and maintain a cafeteria plan under Section 125 of the Internal Revenue Code. The cafeteria plan shall permit an employee who elects not to receive Board provided health insurance coverage to receive, in lieu of health insurance coverage, additional compensation in an amount described in this agreement. The additional compensation shall be subject to all required tax withholdings. The Board may revise the cafeteria plan, as necessary, to comply with the requirements of the Internal Revenue Code.
Flexible Benefits Plan. The District will offer a flexible benefits plan, as permitted by Section 125 of the Internal Revenue Code. The plan will permit salary deductions for the employee share of health insurance costs prior to taking deductions for FICA and state and federal income tax. The plan allows a maximum annual dependent care contribution of up to $5,000. The plan further allows a minimum of $600 and a maximum of $2500 per plan year for medical flexible spending deductions.
