Health Reimbursement Arrangement. 1. The District replaced the supplemental Healthcare Account with an individual “Health Reimbursement Arrangement” (HRA) account for Employees, effective January 1, 2010. 2. This plan is subject to all IRS rules and regulations. 3. The amount shall automatically adjust to a new rate up to six percent (6%) of the inflationary costs of PERS medical effective January 1st each year using the same formula stated in Section 8(A)(2). 4. If the cost per month of Employee’s medical insurance is less than the amount calculated pursuant to Section 8(A)(2) of this Agreement, the District agrees to pay the difference per month into Employees’ HRA. 5. Employee may elect, during open enrollment, to take all or a portion of their HRA benefit as a monthly taxable cash benefit.
Appears in 5 contracts
Samples: Employment Agreement, Employment Agreement, Employment Agreement
