U.S. Flexible Spending Accounts. Prior to January 1, 2020, SpinCo shall, or shall cause a member of the SpinCo Group to, establish a SpinCo Welfare Plan that will provide health or dependent care flexible spending account benefits to SpinCo Group Employees on and after January 1, 2020.

U.S. Flexible Spending Accounts. The Parties shall take all actions necessary to ensure that, effective as of the later of the Distribution Date and the applicable Employee’s Transfer Date, (A) the health care and dependent care flexible spending accounts of the applicable Transferred Employees (whether positive or negative) (the “Transferred Flexible Spending Account Balances”) under the applicable Merck Health and Welfare Plan shall be transferred to the corresponding Organon Health and Welfare Plan; (B) the elections, contribution levels and coverage of the Transferred Employees shall apply under the Organon Health and Welfare Plan in the same manner as under the corresponding Merck Health and Welfare Plan; and (C) the Transferred Employees shall be eligible for reimbursement from the Organon Health and Welfare Plan on the same basis and the same terms and conditions as under the corresponding Merck Health and Welfare Plan. As soon as practicable after the Distribution Date (and any later Transferred Employee’s Transfer Date), and in any event within 30 business days after the amount of the Transferred Flexible Spending Account Balances is determined, Merck shall pay Organon the net aggregate amount of the Transferred Flexible Spending Account Balances, if such amount is positive, and Organon shall pay Merck the net aggregate amount of the Transferred Flexible Spending Account Balances, if such amount is negative.

U.S. Flexible Spending Accounts. The Parties shall use commercially reasonable efforts to ensure that as of the expiration of the transitional period under the Transition Services Agreement, any health or dependent care flexible spending accounts of ATMCo Group Employees (whether positive or negative) (the “Transferred Account Balances”) under NCR Welfare Plans that are health or dependent care flexible spending account plans are transferred, as soon as practicable after the Distribution, from the NCR Welfare Plans to the corresponding ATMCo Welfare Plans. Such ATMCo Welfare Plans shall assume responsibility as of the expiration of the transitional period under the Transition Services Agreement for all outstanding health or dependent care claims under the corresponding NCR Welfare Plans of each ATMCo Group Employee for the year in which the Distribution occurs and shall assume and agree to perform the obligations of the corresponding NCR Welfare Plans on and after the expiration of the transitional period under the Transition Services Agreement. As soon as practicable after the expiration of the transitional period under the Transition Services Agreement, and in any event within 30 days after the amount of the Transferred Account Balances is determined or such later date as mutually agreed upon by the Parties, ATMCo shall pay NCR the net aggregate amount of the Transferred Account Balances, if such amount is positive, and NCR shall pay ATMCo the net aggregate amount of the Transferred Account Balances, if such amount is negative.

U.S. Flexible Spending Accounts. The Parties shall use commercially reasonable efforts to ensure that as of the Effective Time any health or dependent care flexible spending accounts of AFI Group Employees (whether positive or negative) (the “Transferred Account Balances”) under AWI Welfare Plans that are health or dependent care flexible spending account plans are transferred, as soon as practicable after the Effective Time, from the AWI Welfare Plans to the corresponding AFI Welfare Plans. Such AFI Welfare Plans shall assume responsibility as of the Effective Time for all outstanding health or dependent care claims under the corresponding AWI Welfare Plans of each AFI Group Employee for the year in which the Effective Time occurs and shall assume and agree to perform the obligations of the corresponding AWI Welfare Plans from and after the Effective Time. As soon as practicable after the Effective Time, and in any event within 30 days after the amount of the Transferred Account Balances is determined or such later date as mutually agreed upon by the Parties, AFI shall pay AWI the net aggregate amount of the Transferred Account Balances, if such amount is positive, and AWI shall pay AFI the net aggregate amount of the Transferred Account Balances, if such amount is negative.

U.S. Flexible Spending Accounts. Purchaser shall have in effect as of the Closing flexible spending reimbursement accounts under a cafeteria plan qualifying under Section 125 of the Code (the “Purchaser Cafeteria Plan”) that provide benefits to Transferred Employees who had flexible spending reimbursement accounts immediately prior to the Closing in a Seller Benefit Plan that is intended to qualify under Section 125 of the Code (the “Seller Cafeteria Plan”) and Purchaser agrees to cause the Purchaser Cafeteria Plan to accept a spin-off of the flexible spending reimbursement accounts from the Seller Cafeteria Plan and to honor and continue through the end of the calendar year in which the Closing Date occurs the elections made by each Transferred Employee under the Seller Cafeteria Plan in respect of the flexible spending reimbursement accounts that are in effect immediately prior to the Closing. As soon as practicable following the Closing Date, Seller shall cause to be transferred from the Seller Cafeteria Plan to the Purchaser Cafeteria Plan the excess, if any, of the aggregate accumulated contributions to the flexible spending reimbursement accounts made prior to the Closing during the year in which the Closing Date occurs by Transferred Employees over the aggregate reimbursement payouts made prior to the Closing for such year from such accounts to the Transferred Employees. If the aggregate reimbursement payouts made to Transferred Employees prior to the Closing from the flexible spending reimbursement accounts during the year in which the Closing Date occurs exceed the aggregate accumulated contributions to such accounts made by the Transferred Employees prior to the Closing for such year, Purchaser shall make a payment equal to the value of such excess to Air Products as soon as practicable following the Closing Date. From and after the Closing, Purchaser shall assume and be solely responsible for all claims by Transferred Employees under the Seller Cafeteria Plan, whether incurred prior to, on or after the Closing Date, that have not been paid in full as of the Closing.

Related to U.S. Flexible Spending Accounts

Flexible Spending Accounts Employees in the unit shall have access to the County’s flexible spending account program, which provides employees with the options of dependent care assistance benefits with a calendar year maximum of $5,000, and medical expense reimbursement benefits with a calendar year maximum of $2,400. The County shall maintain this plan in compliance with IRC §125. Employee premiums for flexible spending account benefits shall be deducted on a pre-tax basis from employee pay.
Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.
Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.
Health Care Spending Account After six (6) months of permanent employment, full time and part time (20/40 or greater) employees may elect to participate in a Health Care Spending Account (HCSA) Program designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but such savings are not guaranteed. The HCSA Program allows employees to set aside a predetermined amount of money from their pay, not to exceed the maximum amount authorized by federal law, per calendar year, of before tax dollars, for health care expenses not reimbursed by any other health benefit plans. HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance is forfeited and cannot be recovered by the employee.
Health Spending Account (HSA Wellness Spending Account (WSA)/Registered Retirement Savings Plan (RRSP) utilization rates;
Payment Plans Employees covered by the Samaritan Choice medical insurance plan who have outstanding balances that are payable to Samaritan Health Services for in network, covered, and authorized (if medically necessary) services will be provided payment plan offerings upon request from the employee. The request will be made to Patient Financial Services, and may be directed through the Hospital Patient Financial Counselor. Patient Financial Services will work with employees to identify the appropriate payment arrangement based on the employee financial needs/eligibility. Within 120 days from first patient statement, employees must contact Patient Financial Services and identify themselves as a SHS SEIU member and ask for a payment plan arrangement that does not exceed six percent (6%) of their household income. Such requests will be granted using the existing SHS payment options and funding programs. To be eligible for a payment plan, employees must comply with all requirements for establishing appropriate payment options/eligibility, including the completion of a financial assistance application with supporting documentation. Employees who comply with all terms of the payment plan(s) will not be subject to collections or wage garnishment.
Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.
Flexible Working Arrangements In accordance with the Employment Relations Act 2000, an employee affected by family violence may request a short-term (two months or less) variation of their employment arrangements to assist the employee to deal with the effects of family violence.
Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.
Medical/Dental Expense Account The Employer agrees to allow insurance eligible employees to participate in a medical and dental expense reimbursement program to cover co- payments, deductibles and other medical and dental expenses or expenses for services not covered by health or dental insurance on a pre-tax basis as permitted by law or regulation, up to the maximum amount of salary reduction contributions allowed per calendar year under Section 125 of the Internal Revenue Code or other applicable federal law.

U.S. Flexible Spending Accounts Sample Clauses

Filter & Search

Related Clauses

Parent Clauses

Related to U.S. Flexible Spending Accounts