Common use of Flexible Spending Account Allowance per Plan Year Clause in Contracts

Flexible Spending Account Allowance per Plan Year. a. The Board shall provide a $500 allowance for each 203-Day work calendar GESSA employee, hired before July 1, 2000, who does not select family health insurance coverage for a given plan year for the duration of the contract. b. The Board shall provide a $750 allowance for each 260-Day or 239-Day work calendar GESSA employee, hired before July 1, 2000, who does not select family health insurance coverage for a given plan year for the duration of the contract. c. The flexible spending account allowance shall first be used to offset the employee’s contribution for health and dental insurance coverage under the Board’s group plans. A GESSA employee shall be responsible for premium costs that exceed the amount of his/her allowance. A GESSA employee shall not be entitled to receive any unused allowance, or portion thereof, in cash.