HEALTH BENEFITS ALLOWANCE Sample Clauses

HEALTH BENEFITS ALLOWANCE. ‌ Effective January 1, 2022, the Health Benefit Allowance and the maximum District contribution towards medical premiums for eligible full-time employees in each employee category (employee only, employee + 1, employee + family) shall be up to the median of CalPERS Region 1 Premiums for which these employees are eligible, which amount includes the statutory PEMCHA minimum. The District’s total maximum contribution towards medical premiums is pro-rated based on hours in a paid status for new employees, separating employees, employees on a non-qualifying FMLA/CFRA leave and eligible part-time employees. In the event premiums and/or costs for the benefits selected by the employee exceed the amount in the Health Benefits Allowance, the balance will be paid by the employee through automatic pretax payroll deduction, as allowed under Internal Revenue Code Section 125. An employee may allocate monthly Health Benefit Allowance amounts not exhausted for the purchase of health insurance to benefits provided under the Flexible Benefits Plan, which currently consists of the health flexible spending arrangement (Health FSA), dependent care flexible spending arrangement (CD FSA), and voluntary life insurance for the employees (not for a spouse or dependent) up to the maximum life insurance policy limit. Employees may not allocate more than $500 per year of District provided flex credits to their Health FSA account. Also, and although there is no specific limit on the amount of District provided flex credits that can be allocated to the DC FSA, the maximum annual amount that can be reimbursed under the DC FSA is $5,000 per year. This means that any District-provided flex credits that an employee allocates to their DC FSA would reduce the amount the employee can contribute to the DC FSA through salary reduction, so that the maximum of $5,000 is not exceeded. Any unallocated amount of District provided Health Benefit Allowance shall be forfeited at the end of the calendar year. For ACA purposes, the initial measurement period shall be the first 90 days of employment. Employees averaging above 30 hours of employment shall be offered health benefits in accordance with law and pro-rated on their percentage of full-time employment.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
HEALTH BENEFITS ALLOWANCE. 4.1.1 The City shall secure and make available to all eligible employees, medical insurance, dental insurance, accidental death and dismemberment insurance, child care reimbursement, and excess medical expense reimbursement, plans under the Alternative Benefits and Compensation Plan (ABC Plan). The ABC Plan is a "cafeteria plan" as defined in Section 125 of the Internal Revenue Code.
Sample 1

Related to HEALTH BENEFITS ALLOWANCE

  • Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:

  • Medical Benefits The Company shall reimburse the Employee for the cost of the Employee's group health, vision and dental plan coverage in effect until the end of the Termination Period. The Employee may use this payment, as well as any other payment made under this Section 6, for such continuation coverage or for any other purpose. To the extent the Employee pays the cost of such coverage, and the cost of such coverage is not deductible as a medical expense by the Employee, the Company shall "gross-up" the amount of such reimbursement for all taxes payable by the Employee on the amount of such reimbursement and the amount of such gross-up.

  • Dental Benefits The County offers dental and orthodontic benefits to full and part-time regular employees and their eligible dependent(s). Benefit provisions, co­ payments and deductibles are outlined in the Evidence of Coverage. The employee contribution is $13 per pay period ($28.26 per month). The County shall contribute to part-time eligible employees on a pro-rated basis, in accordance with Section 10.2.6.

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Program Benefits The Participating Contractor will be eligible for contractor incentives, its customers will have access to financing offered through the Program, and income-eligible households will be eligible to receive Program incentives.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!