Common use of Fringe Benefit Program Clause in Contracts

Fringe Benefit Program. Members may choose whether or not to enroll in an Oklahoma State and Education Employees Group Insurance Board (OSEEGIB) health plan. Members electing to enroll shall have 100% of the Health Choice High option single premium paid and the flexible benefit shall be credited to their 125 plan. Members not choosing to enroll will receive taxable compensation in lieu of the flexible benefit in the amount of $69.71 per month ($836.52 annually). Members may direct compensation to programs available in the 125 Plans. Programs available through the IRS 125 Plan shall include but not be limited to: OSEEGIB health plans Dental insurance Vision insurance Group term life insurance premiums Disability insurance premiums Cancer & Dread Disease insurance premiums Health Savings Accounts Childcare If a Member, who has major medical coverage (whether individual or family), does not choose to participate in the 125 Plan, said Member shall contribute, through payroll deduction the additional premium. Members may increase coverage as provided in the plan adopted. If the selected plan permits, the Board and the Association further agree that a Member may continue his/her Fringe Benefit Program during an approved leave of absence, provided the Member makes full premium payments. Such payments shall be paid to the Board of Education which, in turn, makes payments to the carriers(s). The Board shall also provide a ten thousand dollar ($10,000) life insurance policy for each Member and shall pay the cost of administering Section 125 of the IRS Code. (2001, 2002, 2003, 2004, 2013)

Fringe Benefit Program. Members may choose whether or not to enroll in an Oklahoma State and Education Employees Group Insurance Board (OSEEGIB) health plan. Members electing to enroll shall have 100% of the Health Choice High option single premium paid and the flexible benefit shall be credited to their 125 plan. Members not choosing to enroll will receive taxable compensation in lieu of the flexible benefit in the amount of $69.71 per month ($836.52 annually). Members may direct compensation to programs available in the 125 Plans. Programs available through the IRS 125 Plan shall include but not be limited to: OSEEGIB health plans Dental insurance Vision insurance Group term life insurance premiums Disability insurance premiums Cancer & Dread Disease insurance premiums Health Savings Accounts Childcare If a Member, who has major medical coverage (whether individual or family), does not choose to participate in the 125 Plan, said Member shall contribute, through payroll deduction the additional premium. Members may increase coverage as provided in the plan adopted. If the selected plan permits, the Board and the Association further agree that a Member may continue his/her Fringe Benefit Program during an approved leave of absence, provided the Member makes full premium payments. Such payments shall be paid to the Board of Education which, in turn, makes payments to the carriers(s). The Board shall also provide a ten ten-thousand dollar ($10,000) life insurance policy for each Member and shall pay the cost of administering Section 125 of the IRS Code. (2001, 2002, 2003, 2004, 2013)