FLEXIBLE SPENDING ACCOUNTS PROGRAM Sample Clauses

FLEXIBLE SPENDING ACCOUNTS PROGRAM. 11-1. All teachers will be eligible to participate in the flexible spending accounts program. This flexible spending accounts program must be in compliance with the current tax laws and state regulations, and will include, but not be limited to, a dependent day care expense option and a miscellaneous medical, dental and vision expense option. New teachers will be eligible starting with the first payroll date after their employment. This program requires an annual, written enrollment or waiver. The pre-tax programs (insurance premiums and flexible spending accounts) plan year is July 1 through June 30. All teachers will be provided the opportunity to enroll, change, or waive their choice of options on an annual basis, prior to July 1. Such change will be effective in accordance with the I.R.S. guidelines. 11-2. Following are the available salary reduction options. Teachers may use any combination of these options. Total salary reduction limits are defined by IRS regulations and included in the TSD Flexible Spending Accounts Program documents. a. Employee’s Portion/Family Health Insurance Premium b. Employee’s Portion/Family Dental Insurance Premium c. Single/Family Vision Insurance Premium d. Qualified Medical, Dental and Vision Costs (for employee and eligible dependents) e. Qualified Dependent Day Care Costs f. Qualified American Fidelity Assurance Company supplemental insurance plans 11-3. Responsibility for monitoring the Flexible Spending Accounts Program is vested in the Joint Insurance Committee described in Article 10, Section 2. 11-3-1. A summary of third party administrator activity and financial reports to TSD, as well as pertinent TSD records, shall be reviewed by the Committee on a semiannual basis. On an annual basis, the Committee will review documents presenting the net cost advantage or deficit derived from administration of the plans.
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FLEXIBLE SPENDING ACCOUNTS PROGRAM. 11-3-2. Any money forfeited under the plans which remain following offset of any deficit incurred for administration of the plans shall be used for employee-related activities and expenditures. If the forfeited funds or the accumulation of the forfeited funds are greater than $5,000, $10,000 the Committee shall request approval for specific use(s) of these funds from the Board. Article 16 -
Sample 1
FLEXIBLE SPENDING ACCOUNTS PROGRAM. 11-1. All teachers will be eligible to participate in the flexible spending accounts program. This flexible spending accounts program must be in compliance with the current tax laws and state regulations, and will include, but not be limited to, a dependent day care expense option and a miscellaneous medical, dental and vision expense option. New teachers will be eligible starting with the first payroll date after their employment. This program requires an annual, written enrollment or waiver. The pre-tax programs (insurance premiums and flexible spending accounts) plan year is July 1 through June 30. All teachers will be provided the opportunity to enroll, change, or waive their choice of options on an annual basis, prior to July 1. Such change will be effective in accordance with the I.R.S. guidelines.
Sample 1

Related to FLEXIBLE SPENDING ACCOUNTS PROGRAM

  • 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.

  • 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.

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

  • 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 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.

  • Dental Care Plan The Welfare Plan will include a Dental Care Plan which will reimburse members for expenses incurred in respect of the coverages summarized in Appendix "1". The Plan will not duplicate benefits provided now or which may be provided in the future by any government program.

  • Payment Plans Employees covered by the Samaritan Choice medical insurance plan who have outstanding balances that are payable to Samaritan Health Services for in network, covered, and authorized (if medically necessary) services will be provided payment plan offerings upon request from the employee. The request will be made to Patient Financial Services, and may be directed through the Hospital Patient Financial Counselor. Patient Financial Services will work with employees to identify the appropriate payment arrangement based on the employee financial needs/eligibility. Within 120 days from first patient statement, employees must contact Patient Financial Services and identify themselves as a SHS SEIU member and ask for a payment plan arrangement that does not exceed six percent (6%) of their household income. Such requests will be granted using the existing SHS payment options and funding programs. To be eligible for a payment plan, employees must comply with all requirements for establishing appropriate payment options/eligibility, including the completion of a financial assistance application with supporting documentation. Employees who comply with all terms of the payment plan(s) will not be subject to collections or wage garnishment.

  • Medical/Dental Expense Account The Employer agrees to allow insurance eligible employees to participate in a medical and dental expense reimbursement program to cover co- payments, deductibles and other medical and dental expenses or expenses for services not covered by health or dental insurance on a pre-tax basis as permitted by law or regulation, up to the maximum amount of salary reduction contributions allowed per calendar year under Section 125 of the Internal Revenue Code or other applicable federal law.

  • Insurance Programs 35.1 Fringe Benefits a. The Board agrees to provide the: Individual core plan premium on behalf of each regular full time employee Part-time regular employees may receive pro-rated insurance benefits if eligible by the carrier. b. When an employee and legally recognized spouse are both employed by the district and are eligible for the school district group plan, the district shall, at the employees' option, combine the district's insurance contribution toward the family plan.

  • Flexible Working Arrangements In accordance with the Employment Relations Act 2000, an employee affected by family violence may request a short-term (two months or less) variation of their employment arrangements to assist the employee to deal with the effects of family violence.