Common use of Flex Benefits Clause in Contracts

Flex Benefits. Employees may waive group health insurance coverage upon submission of proof that they are covered under another group health insurance plan. Grandfathered employees, those who receive flex benefits in lieu of base insurance coverage, must have been hired by the District prior to July 1, 2004. Employees hired after June 30th, 2004 will not receive the $1,500 from the District even if they are eligible to waive District coverage. Under a cafeteria plan, any flexible benefit deposits made by employees that remain unspent at the end of a benefit year must, by law, be returned to the District. However, it is the practice of the District to add these unspent funds, to reduce health insurance premiums in subsequent years.

Flex Benefits. Employees may waive group health insurance coverage upon submission of proof that they are covered under another group health insurance plan. Grandfathered employees, those who receive flex benefits in lieu of base insurance coverage, must have been Employees hired by the District prior to before July 1, 2004, who have been receiving the flex benefit continuously are grandfathered in to continue receiving the benefit. Employees hired after June 30th30, 2004 2004, will not receive the $1,500 from the District even if they are eligible to waive District coverage. Under a cafeteria plan, any flexible benefit deposits made by employees that remain unspent at the end of a benefit year must, by law, be returned to the District. However, it is the practice of the District to add these unspent funds, funds to reduce health insurance premiums in subsequent years. J. 403(b), 125 and Other Tax-Deferred Options A variety of retirement and tax-deferred plans are available through payroll deduction. Information may be found on SUSD Intranet.