Common use of IMPORTANT RESTRICTIONS Clause in Contracts

IMPORTANT RESTRICTIONS. You must elect to participate prior to the beginning of each plan year. There is no allowance for late enrollment. * The amount which you designate for medical reimbursement may not subsequently be used for reimbursement of dependent day-care expenses and vice versa. * If you do not file sufficient claims for reimbursement, you will lose the unused amounts. This is often referred to as the “use it or lose it” rule. * During an unpaid leave of absence, contributions to the unreimbursed medical account must be made on an after tax basis just like any insurance premiums. When the employee returns to work, the pre-tax contribution will resume.

Appears in 12 contracts

Samples: Agreement, Agreement, Agreement

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