Health Care Spending Account for Full-time Employees Sample Clauses

Health Care Spending Account for Full-time Employees. Full time employees are provided with a Health Care Spending Account. Full- time employees will be able to apply for reimbursement of eligible health care and dental expenses for themselves and their dependents. Effective January 1, 2024, the amount available for the Health Care Spending Account amount shall be increased by one hundred dollars ($100.00). Eligible expenses include professional medical services, dental services, prescription drugs, eye glasses, etc. that are considered tax deductible by Canada Revenue Agency but are not covered by any other plan. Full time employees and their dependents will not be eligible for reimbursement if expenses are recoverable from another source (Extended Health Plan, Dental Plan, Pharmacare, provincial health insurance or any other medical plan). The dollars in the Health Care Spending Account must be used in the benefit year in which they are allocated. There will be no carryover of Health Care Spending Account dollars into the next benefit year. Upon submission of a claim, employees will be reimbursed for expenses incurred in the benefit year. If the Health Care Spending Account balance for the current benefit year has been used up, and an employee has outstanding eligible expenses, these expenses may be carried forward to a maximum of ninety (90) calendar days into the next benefit year for reimbursement. Claims submitted will be paid through the basic plan first. Any unpaid balance from any eligible plan will be held until the Insurer receives a Health Care Spending Account Payment Form authorizing the Insurer to reimburse the full-time employee. Claims that are only eligible under the Health Care Spending Account can be submitted along with receipts on a completed Health Care Spending Account Claim Form directly to the Insurer. Claims will be paid once per month upon accumulation of fifty dollars ($50.00) in expenses, or at the end of the benefit year, which runs from April 1 to March 31, if the employee has not reached fifty dollars ($50.00) The benefit year is understood to be April 1 to March 31 annually.
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Related to Health Care Spending Account for Full-time Employees

  • 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.

  • 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.

  • Flexible Spending Account (FSA) Beginning January 1, 1993, an employee may designate an amount per year to be placed into the employee’s Flexible Spending Account (as defined in Section 125 of the Internal Revenue Code as amended from time to time). The amounts in the account may be used to reimburse the employee for uncovered medical expenses. Amounts placed in the account are not subject to federal, state and Social Security (FICA) taxes. Reports of earnings to MTRFA and pension deductions will be based on gross earnings.

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator.

  • 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.

  • Disclosure Statement for Xxxxxxxxx Education Savings Accounts 1. Who is Eligible for a Xxxxxxxxx Education Savings Account? Anyone may contribute to a Xxxxxxxxx Education Savings Account regardless of his or her relationship to the beneficiary. The beneficiary of a Xxxxxxxxx Education Savings Account

  • 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.

  • HEALTH CARE PLANS ‌ Notwithstanding the references to the Pacific Blue Cross Plans in this article, the parties agree that Employers, who are not currently providing benefits under the Pacific Blue Cross Plans may continue to provide the benefits through another carrier providing that the overall level of benefits is comparable to the level of benefits under the Pacific Blue Cross Plans.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

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