Common use of Flexible Spending Plan (IRS) Code – Section 125 Clause in Contracts

Flexible Spending Plan (IRS) Code – Section 125. The District shall provide a Flexible Spending Plan, in accordance with the provisions of the Internal Revenue Service Code, Section 125. Such plan shall include a premium payment account, an unreimbursed medical expenses account, and dependent care expense account. The cost of providing the FSA will not exceed the savings generated by the FSA. If the costs do exceed the savings, the parties will meet and review the viability of continuing the FSA.

Flexible Spending Plan (IRS) Code – Section 125. The District shall provide a Flexible Spending Plan, in accordance with the provisions of the Internal Revenue Service Code, Section 125. Such plan shall include a premium payment account, an unreimbursed medical expenses account, and dependent care expense account. The plan is available to all staff excluding substitutes. The cost of providing the FSA will not exceed the savings generated by the FSA. If the costs do exceed the savings, the parties will meet and review the viability of continuing the FSA.