Flexible Benefit Amount Clause Samples
The Flexible Benefit Amount clause defines the portion of benefits under an agreement that can be adjusted based on certain criteria or circumstances. Typically, this clause allows the benefit amount to vary depending on factors such as employee selection, changes in employment status, or specific events outlined in the contract. Its core practical function is to provide adaptability in benefit offerings, ensuring that the benefits can be tailored to individual needs or changing situations, thereby enhancing employee satisfaction and administrative efficiency.
Flexible Benefit Amount a. The City has contracted with the Public Employees' Retirement System (PERS) for the purpose of providing medical insurance benefits for employees covered by this Memorandum of Understanding, eligible retired employees and eligible survivors of retired employees. Eligibility of retired employees and survivors of retired employees to participate in this program shall be in accordance with regulations promulgated by PERS. The City has established a Flexible Benefit Amount for each full-time regular employee who is eligible to enroll in one of the PERS medical insurance plans offered by the City. The City’s contribution to the Flexible Benefit A m ou nt includes the current PEHMCA statutory minimum contribution, which as of 1/1/2018 is one hundred thirty-three dollars ($133.00) per month per current eligible employee who subscribes for coverage in one of the PERS medical insurance plans offered by the City. During the term of this MOU and until a successor agreement is reached, the Flexible Benefit Amount agreed to by the parties includes the PEHMCA minimum contribution.
b. Effective January 1, 2019, and through the term of this MOU the City shall contribute up to a maximum contribution per month per eligible employee toward the Flexible Benefit Amount as follows: Employee w/o Medical – Cash Back $230.00 Employee only $952.11 Employee and one dependent $1,904.21 Employee and two or more dependents $2,475.48 *The amounts indicated above do not include Life Insurance or Dental Insurance premiums which are paid by the City separately. The amounts indicated above do include the PEHMCA statutory minimum contribution as required by state law, regardless of the year or amount, if enrolled in PERS medical insurance. In the event an employee enrolls in a PERS plan that is more than the City’s contribution to the Flexible Benefit Amount, the City shall make a payroll deduction from the employee's pay to cover the difference in cost. If no medical benefits are selected, upon proof of coverage through their spouse, the Flexible Benefit Amount credited to the employee will be at the 0- Party rate of $230 per month. Each employee shall be responsible for providing immediate written notification to the Human Resources Department of any change to the number of his/her dependents, which affects the amount of the City payment to the Flexible Benefit Amount. An employee, who by reason of failing to report a change in dependents, receives a City payment greater than the amount...
Flexible Benefit Amount a. The City has contracted with the Public Employees' Retirement System (PERS) for the purpose of providing medical insurance benefits for employees covered by this Memorandum of Understanding, eligible retired employees and eligible survivors of retired employees. Eligibility of retired employees and survivors of retired employees to participate in this program shall be in accordance with regulations promulgated by PERS. The City has established a Flexible Benefits Amount for each full-time regular employee who is eligible to enroll in one of the PERS medical insurance plans offered by the City. The City’s contribution to the Flexible Benefit Amount includes the current PEMHCA statutory minimum contribution, which as of 1/1/2018 is one hundred thirty three dollars ($133.00) per month per current eligible employee who subscribes for coverage in one of the PERS medical insurance plans offered by the City. During the term of this MOU and until a successor agreement is reached, the Flexible Benefit Amount agreed to by the parties includes the PEMHCA statutory minimum employer contribution requirement.
b. Through the term on this agreement the City shall contribute the maximums listed below. Employees who elect not to enroll in one of the City’s health plans and show proof of enrollment in an alternative plan, shall receive $106.15 per pay period while waiving coverage. The maximum medical premium contribution rates for 2022 are as follows: Waiver of Coverage: $106.15 per pay period Single Party (Employee Only): $952.11 per month Two-Party (Employee +1 Dependent): $1,904.21 per month Family (Employee +Family): $2,475.48 per month *The amounts indicated above do not include Life Insurance or Dental Insurance premiums which are paid by the City separately. The amounts indicated above do include the PEMHCA statutory minimum contribution) as required by state law, regardless of the year or amount, if enrolled in PERS medical insurance. Effective January 1, 2023, and every January 1st thereafter, during the term of this agreement, the City will increase the City Contribution to the medical premium to reflect 50% of the increase in cost from the previous year, of the CalPERS Kaiser plan in the area or region in which Alameda is assigned. The increase will be based on 50% of the increase to the Employee plus two or more dependents level of coverage. The $106.15 per pay period cash-in-lieu of coverage rate shall not change. In the event an employee enrolls in a PERS p...
Flexible Benefit Amount. Two different structures for the medical component of the Flexible Benefit Amount will be provided to employees, based on their date of hire as outlined below. Employees who were hired by the City of Alameda on or before January 2, 2007 and are currently covered under Plan A or Plan B as outlined below may choose to move to Plan B during open enrollment or due to a qualifying event. Once Plan B is chose n, the employee will not have the ability to move back into Plan A. All employees promoted from another bargaining unit or hired or promoted into the MCEA bargaining unit after January 2, 2007 shall be covered under Plan B. Under Plan A, the City will make the following contributions per month per eligible employee toward the Flexible Benefit Amount for health insurance. These amounts include the PEMHCA statutory minimum contribution as required by state law, regardless of the year or amount, if enrolled in PERS medical insurance. Maximum Maximum Coverage Level City Contribution Cash Back Amt.* No coverage (0 party) - $ 869.43 Employee only - $1,788.58 $ 530.74 Employee + 1 - $1,811.81 $176.05 Employee + 2 or more dependents $1,825.76 $ 0 *The cash back amounts are maximums. The actual cash back is dependent upon the plan selected by the employee. If an employee chooses to be covered by a higher cost medical plan, they will be responsible for paying the difference in the cost for that medical plan. If an employee elects no medical coverage through the City and can document they have alternative medical coverage, they will be eligible for cash back at the “No coverage” rate. If an employee elects to have health coverage, the amount of cash back is determined based upon the City’s Medical Contribution less the cost of the medical plan chosen by the employee. Employees receiving cash back will continue to be eligible to receive it. The amount of cash back will not increase from current levels; however, the amount of cash back an employee receives may change as a result of a change in enrollment based on coverage level. The cash back amounts will not be increased as premiums rise. Under Plan B, the City will make the following contributions per month per eligible employee toward the Flexible Benefit Amount for health insurance. These amounts include the PEMHCA statutory minimum contribution as required by state law, regardless of the year or amount, if enrolled in PERS medical insurance. Through the term on this agreement the City shall contribute the maximums ...
Flexible Benefit Amount. Support employees who work a minimum of six (6) hours a day for 172 days per fiscal year shall be entitled to the flexible allowance provided by the Education Flexible Benefits Allowance Act, 70 O.S. 26-101 et seq. For the fiscal year ending June 30, 2003 and each fiscal year thereafter, the flexible benefit allowance amount for support personnel shall be no less than one hundred percent (100%) of the premium account for the Health Choice (Hi) option plan for an individual offered by the State and Education Employees Group Insurance Board. Support personnel who choose not to participate in the school district sponsored cafeteria plan shall receive one hundred eighty-nine dollars and sixty-nine cents ($189.69) per month as taxable compensation in lieu of the flexible benefit allowance The district will pay half of the health insurance offered by the school for bus drivers who elect to take the insurance. There is no compensation if a driver chooses not to take the health insurance. The Board agrees to provide each member a description of the coverage under the Fringe Benefits program.
Flexible Benefit Amount. Beginning January 1, 2023, the Flexible Benefit amount shall be $1,300 per month. Beginning January 1, 2024, the Flexible Benefit amount shall be $1,400 per month.
a) Any and all amounts in excess of $1,000 per month shall not be convertible to cash (cash out)