EMPLOYEE FLEXIBLE SPENDING/REIMBURSEMENT ACCOUNT Sample Clauses

EMPLOYEE FLEXIBLE SPENDING/REIMBURSEMENT ACCOUNT. Employee Flexible Spending/Reimbursement Accounts may be established effective the first day of the month following the date of hire, subject to open enrollment periods. A faculty member may utilize the Employee Flexible Spending/Reimbursement Account to pay a portion of his/her out-of- pocket uninsured Health Care and Dependent Care expenses with pre-tax dollars. The Flexible Spending Accounts are administered in accordance with applicable IRS regulations and restrictions and the annual minimum and maximum dollar contributions for allowable expenses will be consistent with the limits established by the IRS.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
EMPLOYEE FLEXIBLE SPENDING/REIMBURSEMENT ACCOUNT. Employee Flexible Spending/Reimbursement Accounts may be established effective the first day of the second full month following the date of hire, subject to open enrollment periods. A bargaining unit member may utilize the Employee Flexible Spending/Reimbursement Account to pay a portion of his/her out-of-pocket uninsured Health Care and Dependent Care Expenses with pre-tax dollars. Minimum and maximum dollar limits are: Annual Minimum Annual Maximum Health Care: $120 $5,000 Dependent Care: $520 $5,000 Adoption $10,960 The Flexible Spending Accounts are administered in accordance with applicable IRS regulations and restrictions and minimum and/or maximum dollar limits on employee contributions shall be consistent with the limits determined by the IRS.
Sample 1Sample 2Sample 3
EMPLOYEE FLEXIBLE SPENDING/REIMBURSEMENT ACCOUNT. Employee Flexible Spending/Reimbursement Accounts may be established effective the first day of the month following the date of hire, subject to open enrollment periods. A Union member may utilize the Employee Flexible Spending/Reimbursement Account to pay a portion of his/her out-of-pocket uninsured Health Care, Dependent Care, and Adoption expenses with employee pre-tax dollars: The Flexible Spending Accounts are administered in accordance with applicable IRS regulations and restrictions and minimum and/or maximum dollar limits on employee contributions shall be consistent with the limits determined by the IRS.
Sample 1Sample 2
EMPLOYEE FLEXIBLE SPENDING/REIMBURSEMENT ACCOUNT. Employee Flexible SpendinglReimbursement Accounts may be established effective the first day of the month following the date of hire, subject to open enrollment periods. A union member may utilize the Employee Flexible SpendinglReimbursement Account to pay a portion of his/her out-of-pocket uninsured I Health Care and Dependent Care expenses with pre-tax dollars. Minimum and maximum dollar limits are: Annual Maximum I Health Care: Dependent Care: $ 26.00 $520.00 $2,000.00 $5,000.00 I The Flexible Spending Accounts are administered in accordance with applicable IRS regulations and restrictions. NOTE: Union members shall have the opportunity to select different options on an annual basis during OPEN ENROLLMENT for benefits listed in Items 1 through 6 above. (Excluding LTD). I The annual OPEN ENROLLMENT period will be during June of each year, with an effective date of July 1 each year.
Sample 1

Related to EMPLOYEE FLEXIBLE SPENDING/REIMBURSEMENT ACCOUNT

  • 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.

  • 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 (FSA) Beginning January 1, 1993, an employee may designate an amount per year to be placed into the employee’s Flexible Spending Account (as defined in Section 125 of the Internal Revenue Code as amended from time to time). The amounts in the account may be used to reimburse the employee for uncovered medical expenses. Amounts placed in the account are not subject to federal, state and Social Security (FICA) taxes. Reports of earnings to MTRFA and pension deductions will be based on gross earnings.

  • DEPENDENT CARE REIMBURSEMENT ACCOUNT During the term of this MOU, Management agrees to maintain a Dependent Care Reimbursement Account (DCRA), qualified under Section 129 of the Internal Revenue Code, for active employees who are members of LACERS, provided that sufficient enrollment is maintained to continue to make the account available. Enrollment in the DCRA is at the discretion of each employee. All contributions into the DCRA and related administrative fees shall be paid by employees who are enrolled in the plan. As a qualified Section 129 Plan, the DCRA shall be administered according to the rules and regulations specified for such plans by the Internal Revenue Service.

  • Medical Flexible Spending Arrangement A. During January 2020 and again in January 2021, the Employer will make available two hundred fifty dollars ($250) in a medical flexible spending arrangement (FSA) account for each bargaining unit member represented by a Union in the Coalition described in RCW 41.80.020(3), who meets the criteria in Subsection 28.7(B) below.

  • Flexible Spending Plan As of the Employment Commencement Date, the Seller shall transfer, or use commercially reasonable efforts to cause to be transferred, from the Employee Plans that are medical and dependent care account plans (each, a “Seller FSA Plan”) to one or more medical and dependent care account plans established or designated by Buyer (collectively, the “Buyer FSA Plan”) the account balances (positive or negative) of Transferred Employees, and Buyer shall be responsible for the obligations of the Seller FSA Plans to provide benefits to the Transferred Employees with respect to such transferred account balances at or after the Employment Commencement Date (whether or not such claims are incurred prior to, on or after such date). Each Transferred Employee shall be permitted to continue to have payroll deductions made as most recently elected by him or her under the applicable Seller FSA Plan. As soon as reasonably practicable following the end of the plan year for the Buyer FSA Plan, including any grace period, Buyer shall promptly reimburse Seller for benefits paid by the Seller FSA Plans to any Transferred Employee prior to the Employment Commencement Date to the extent in excess of the payroll deductions made in respect of such Transferred Employee at or prior to the Employment Commencement Date but only to the extent that such Transferred Employee continues to contribute to the Buyer FSA Plan the amount of such deficiency. This Section 8.07 shall be interpreted and administered in a manner consistent with Rev. Rul. 2002-32.

  • 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.

  • Flexible Spending The Board shall make flexible spending accounts available to employees in the bargaining unit.

  • 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.

  • 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.

Time is Money Join Law Insider Premium to draft better contracts faster.