Common use of Medical Flexible Spending Account and Dependent Care Spending Account Clause in Contracts

Medical Flexible Spending Account and Dependent Care Spending Account. The City shall maintain a Section 125 Plan, permitting employees to pay for eligible expenses, such as employee premium contributions, medical expenses, and dependent care cost with pre-tax dollars. Participants will be responsible for any claims service charge. Participants in the Plan may annually deposit up to the maximum amount allowable under Section 125 of the Internal Revenue Code for medical expenses and dependent care into the Plan. Each employee shall be solely and personally responsible for meeting provisions and requirements set forth in the regulations of the Section 125 Plan and the Plan Administrator. Employees shall file an election in writing during the month of open enrollment each year designating how much they would like to contribute to their Flexible Spending Account. Thereafter, no changes to designations so made shall be allowed until the enrollment of the following year, except for changes due to an eligible qualifying event.

Medical Flexible Spending Account and Dependent Care Spending Account. The City shall maintain a Section 125 Plan, permitting employees to pay for eligible expenses, such as employee premium contributions, medical expenses, expenses and dependent care cost cost, with pre-tax dollars. Participants will be responsible for any claims service charge. Participants in the Plan may annually deposit up to the maximum amount allowable under Section 125 of the Internal Revenue Code for medical expenses and dependent care into the Plan. Each employee shall be solely and personally responsible for meeting provisions and requirements set forth in the regulations of the Section 125 Plan and the Plan Administrator. Employees shall file an election in writing during the month of open enrollment each year designating how much they would like to contribute to their Flexible Spending Account. Thereafter, no changes to designations so made shall be allowed until the enrollment of the following year, except for changes due to an eligible qualifying event.