Section 125 Flexible Benefits Sample Clauses

Section 125 Flexible Benefits. The District agrees to continue a Section 125 flexible benefit plan to include dependent care and/or medical care reimbursement.
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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.
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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 members 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.
Sample 1
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.
Sample 1

Related to Section 125 Flexible Benefits

  • Flexible Benefits Insurance Program

  • Flexible Benefits Plan A flexible benefits plan, which is in accordance with Section 125 of the Internal Revenue Code, was implemented for eligible employees covered by this Agreement on October 1, 1990.

  • Flexible Benefit Plan The Board shall provide the following flexible benefit plan to employees who are paid more than twenty (20) hours per week. All employee benefits plans provided by the Board under this Article shall have plan years based on the calendar year. No Coverage - Employees who produce proof of other medical insurance coverage may elect no coverage. Those electing no coverage as of June 30, 2001, will receive a cash "buy-out" equal to 40% of the annual premium for the “Point-of-Service Plan Individual Coverage” up to $1,220.44 per year. Any employee receiving a cash “buy-out” who elects coverage on or after July 1, 2001will no longer be eligible to receive the cash “buy-out” at a later date. DENTAL Traditional - See Traditional Dental Chart below. No Coverage - Employees may elect no coverage. Those electing no coverage as of June 30, 2001, will receive a cash "buy-out" equal to 40% of the annual premium for "Traditional Individual Coverage” up to $89.70 per year. Any employee receiving a cash “buy-out” who elects coverage on or after July 1, 2001, will no longer be eligible to receive the cash “buy-out” at a later date. TRADITIONAL DENTAL NO DEDUCTIBLE 100%** Emergency treatment Oral examinations X-Rays Teeth cleaning Fluoride treatments for children to age 19 Space maintainers Preventative Services PER PERSON PER CALENDAR YEAR DEDUCTIBLE* 80%** Laboratory tests Fillings Amalgam Silicate Acrylic Root canal Repair and maintenance of bridgework and dentures Periodontal services Extractions and other oral surgery Anesthesia Basic Services PER PERSON PER CALENDAR YEAR DEDUCTIBLE* 50%** Gold and porcelain fillings and crowns Installation of bridgework and crowns Orthodontia (subject to separate $2,500 lifetime maximum per person) – Effective January 1, 2017 Major Services $1,500 Per Person - Calendar Year Maximum** $2,000 Per Person – Calendar Year Maximum** (Effective January 1, 2017) * $50 per person; $150 - Family maximum - when three (3) Family Members have each met the $50 Deductible - See the Schedule of Insurance. **Paid by Traditional Dental.

  • Additional Benefits/Card Enhancements The Credit Union may from time to time offer additional services to your account, such as travel accident insurance, at no additional cost to you. You understand that the Credit Union is not obligated to offer such services and may withdraw or change them at any time.

  • Dental Care Benefits (a) The Employer shall provide such regular, full-time employee (and his eligible dependents*) the 100/75/50 co-pay dental plan in effect as of the date of this Agreement, subject to such conditions, exclusions, limitations, deductibles and other provisions pertaining to coverage as stated in said plan. The Employer shall pay 95% of the illustrated premium cost of such benefits and the employee shall pay the balance.

  • Health Care Benefits (a) Each regular full-time employee may elect coverage for himself and his eligible dependents* under one of the following health insurance plans:

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