Health FSA Account definition

Health FSA Account means the account described in Section 7.5.
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Health FSA Account means an account made available under the Health Care Flexible Spending Account (“Health FSA”) Plan as specified in Schedule B of this Plan, under which an Eligible Employee can elect to participant by electing (a) to receive benefits in the form of reimbursements for Medical Care Expenses (Health FSA Benefits); and (b) to pay the contributions for such Health FSA Benefits on a pre-tax salary reduction basis.‌
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Health FSA Account means the account described in Section 7.5. “Health FSA Benefits” has the meaning described in Section 7.1.
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Examples of Health FSA Account in a sentence

  • For reimbursement of expenses from the Health FSA Account after termination of employment, see 'What must I do to be reimbursed for Medical Care Expenses from the Health FSA?'.

  • The Premium Insurance Benefits will terminate as of the date specified in the Premium Plan.Reimbursements from the Health FSA Account after termination of participation will be made pursuant to Section 7.10 for Health FSA Benefits.

  • The Plan Administrator will establish and maintain a Health FSA Account with respect to each Participant for each Plan Year or other Period of Coverage who has elected to participate in the Health FSA Component, but it will not create a separate fund or otherwise segregate assets for this purpose.

  • In addition, any Health FSA Account benefit payments that are unclaimed (e.g., uncashed benefit checks) by the close of the Plan Year following the Period of Coverage in which the Medical Care Expense was incurred shall be forfeited and applied as described above.

  • So long as the claim meets all applicable requirements, the $300 would be available to you for that expense, even though you have only contributed $153.84 to your Health FSA Account at that point.

  • The Employer must discuss and give the Participant the option to make a pre-tax final paycheck Salary Reduction or self-pay on an after-tax basis any remaining Contributions for the Plan Year to his or her Health FSA Account.

  • For this purpose, a Participant’s Health FSA Account balance is determined on a cash basis—that is, without regard to any claims that have been incurred but have not yet been reimbursed (whether or not such claims have been submitted).

  • Specifically, such individuals will be eligible for COBRA continuation coverage regardless of the Health FSA Account balance at the end of the applicable Period of Coverage (taking into account all claims submitted before the date of the qualifying event).

  • In addition, a Participant who has an election for Health FSA Benefits (other than the Limited (Vision/Dental/Preventive Care) Health FSA Option) that is in effect on the last day of a Plan Year cannot elect HSA Benefits for any of the first three calendar months following the close of that Plan Year, unless the balance in the Participant’s Health FSA Account is $0 as of the last day of that Plan Year.

  • Your Health FSA Account is merely a recordkeeping account; it is not funded (all reimbursements are paid from the general assets of the Employer), and it does not bear interest.


More Definitions of Health FSA Account

Health FSA Account means the account described in the "Health FSA Component" section.
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Related to Health FSA Account

  • Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Consumer account means an account established primarily for personal, family, or household use.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • JetBrains Account or “JBA” means an account at xxxxx://xxxxxxx.xxxxxxxxx.xxx created by Customer, having a unique name and password, and through which Customer has access to Products in accordance with a Toolbox Subscription.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.