Section 125 Flexible Benefits. The District agrees to continue a Section 125 flexible benefit plan to include dependent care and/or medical care reimbursement.
Section 125 Flexible Benefits. The City will provide a section 125 (IRS Code) flexible benefit program which allows the employee to use pre-tax income to pay medical premiums, excess medical costs not paid by the health insurance plan and dependent care expenses. The decision to use the flexible benefit program is at the discretion of the employee and subject to the rules of the IRS. Effective with the implementation of a section 125 flexible benefit program beginning with the calendar month of April, 1994, the following premium co-share program shall be implemented for full-time employees of this bargaining unit: In the event of a plan premium reduction, the employee contribution toward the premium will be reduced so that the percent of the City contribution and the employee co-share contribution to the total monthly premium shall remain the same. The amount of the premium co-share will not increase during the term of this agreement. Effective January 1, 1998, there is only one health plan available to employees and retirees, which is the City of East Lansing self-insured plan. The following premium co-share program shall be implemented for full-time members of the bargaining unit who elect coverage under the PPOM network: Single $11.81 per month Double $27.86 per month Family $29.60 per month There shall be no premium co-share for employees who select the SPHN network or for retirees. In the event of a plan premium reduction, the employee contribution toward the premium will be reduced so that the percent of the City contribution and the employee co-share contribution to the total monthly premium shall remain the same.
Section 125 Flexible Benefits. The City will provide a Section 125 (IRS Code) flexible benefit program which allows the employee to use pre-tax income to pay medical premiums, excess medical costs not paid by the health insurance plan and dependent care expenses. The decision to use the flexible benefit program is at the discretion of the employee and subject to the rules of the IRS. All employees of the bargaining unit will receive a copy of the flexible benefit program and an official from the City will meet with the membership annually to explain the Section 125 flexible benefits.
Section 125 Flexible Benefits. No later than one year after ratification of an Agreement, the District will offer a flexible benefit program that will establish Flexible Spending Accounts in which employees may designate pre-tax salary dollars to be used for specific insurance premium expenses, health care expenses (including employee premium share) and dependent care expenses to the extent allowable under Section 125 of the Internal Revenue Code. If at any time such Section 125 or its underlying regulations shall be amended, the parties shall promptly amend the plan. As a result of changes to regulations governing Section 125 unreimbursed medical FSA plans under the Internal Revenue Code, the Summary Plan Document will be modified to permit $500 of unused health FSA amounts remaining at the end of the plan year to be paid or reimbursed to plan participants for qualified medical expenses incurred during the following plan year.
