Health Care FSA. 1. Under the Cafeteria Plan, each employee will be allowed to make a separate pre-tax “salary reduction” election up to a maximum annual amount permitted by current applicable tax code and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
2. The salary reduction shall be made from each pay.
Health Care FSA i. Under the Cafeteria Plan, each member will be allowed to make a separate pre- tax “salary reduction” election up to a maximum amount of $2,500 (exclusive of member contributions for health coverage) per calendar year, and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
ii. The salary reduction shall be made in twenty four (24) equal installments beginning with the first pay in January.
Health Care FSA a. Under the Cafeteria Plan, each teacher will be allowed to make a separate pre-tax “salary reduction” election up to a maximum amount of $2,500 per year (exclusive of any teacher contributions for health coverage), and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
b. The salary reduction shall be made in eighteen (18) equal installments beginning the last pay in October.
c. Forfeiture of Unused Allocations To comply with the requirement of IRC Section 125, amounts remaining in either the dependent care or health care FSA at the end of each plan year, plus the applicable run-out period, will be forfeited. In the event a teacher separates from employment during a plan year with a remaining balance in the FSA account(s), the teacher may continue to receive reimbursements from the account(s) through the end of that plan year, plus the applicable run-out period.
Health Care FSA a. Under the Cafeteria Plan, each teacher will be allowed to make a separate pre-tax “salary reduction” election up to a maximum amount permitted by the IRS (exclusive of teacher contributions for health coverage) per year, and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
b. The salary reduction shall be made in twenty-four (24) equal installments [or in twenty (20) equal installments for those receiving twenty (20) pays] beginning with the first pay in January.
Health Care FSA a. Under the Cafeteria Plan, each teacher will be allowed to make a separate pre- the IRS (exclusive of teacher contributions for health coverage) per year, and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
b. The salary reduction shall be made in twenty-four (24) equal installments [or in twenty (20) equal installments for those receiving twenty (20) pays] beginning with the first pay in January.
Health Care FSA. 1) Under the Cafeteria Plan, each teacher will be allowed to make a separate pre- tax “salary reduction” election up to the IRS maximum allowable amount per year (exclusive of any teacher contributions for health coverage), and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
2) The salary reduction shall be made in eighteen (18) equal installments beginning with the last pay in October.
Health Care FSA a. Under the Cafeteria Plan, each employee will be allowed to make a separate pre-tax "salary reduction" election up to a maximum amount of two thousand five hundred ($2,500) per year (exclusive of any employee contributions for health coverage), and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
b. The salary reduction shall be made in eighteen (18) equal installments beginning with the last pay in October.
c. The plan shall allow a carryover of unused funds from plan year-to-plan year up to the maximum allowable amount under Federal law.
Health Care FSA. This is a special account where the money in the account may be used on a tax free basis for almost any un-reimbursed expense related to medical, dental, or vision coverage for you, your spouse, or your dependents. For example, you can use the money to be reimbursed for deductibles, co-insurance, and co-payments under an established plan (like the BIW healthcare program, or the LS6-sponsored union dental plan, or a plan through your spouse's employer), or for out-of-pocket expenses you have if you are not covered under an established plan. Contributions you make as a requirement to participate in a benefits plan, like payroll deductions for healthcare or dental coverage, are not eligible. You have access to either a full-use or limited-use FSA. A full-use FSA can be used to cover medical, dental, and vision expenses. However, you cannot elect a full-use FSA if you or your spouse has a Health Savings Account (HSA). A limited-use FSA can be used to cover dental and vision expenses and can be used in conjunction with an HSA. You can establish your own account by setting aside a portion of your wages on a pre-tax basis during the annual open enrollment process conducted each Fall preceding the calendar year. If you elect to participate in this account, you must indicate so during the open enrollment and decide how much to contribute during that year. Contribution limits will be consistent with federal laws and regulations. To make sure you put the right amount of money in your account during open enrollment, you need to estimate your expenses for the next year. To the extent you have money remaining in your FSA at the end of the year, you can carry-over up to $500$570 for use in the following year. Any amount beyond $500$570 will be forfeited; notwithstanding that you have ninety (90) days after the end of the year in which to file receipts for services that were rendered in that year. See the BIW Benefits Department for a complete list of eligible and ineligible expenses. You can only make changes outside of the open enrollment process during the year under certain rules. For those rules, see the "Changes During The Year" section under the Healthcare Program.
Health Care FSA. The Health Care FSA provides employees with an opportunity to pay for medical, dental, vision and hearing out-of-pocket expenses on a pretax basis. Employees are reimbursed up to the amount pledged for the calendar year.
Health Care FSA. 23.4.4.1 Under the Cafeteria Plan, each employee will be allowed to make a separate pre-tax “salary reduction” election up to a maximum amount allowable under IRC (currently $1,500.00 per year) of and receive a corresponding credit under a health care FSA. Under the health care FSA, reimbursement may be received for medical expenses (under IRC Section 213) that are not otherwise reimbursable by the health care plans of the Board or of another employer.
23.4.4.2 The salary reduction shall be made in eighteen (18) equal installments beginning with the last pay in October.
