Flexible Spending. The Board shall make flexible spending accounts available to employees in the bargaining unit.
Flexible Spending. Arrangement (FSA): A flexible spending plan described in Section 125 IRC.
Flexible Spending. Account Furthermore, the parties understand that under the Licking County Health Plan, the County will provide flexible spending account credits for each employee who elects to participate in the Licking County Health Plan. It is understood and agreed that the flexible spending account may change from plan year to plan year. No amount remaining in the account at the end of the year may be paid to the employee in cash. It is understood that employees are subject to the flexible spending account policies and procedures for use, crediting, and disbursement of their flexible spending account.
Flexible Spending. The Board shall provide a Flexible Spending Account Plan established pursuant to Section 125 of the Internal Revenue Code which will allow voluntary payroll deduction. The substance and procedures of the Plan, and any changes thereto, are in each instance to be determined by the Board after consultation with the Union. The Plan shall include only dependent care assistance and non-reimbursed medical expenses. Health insurance premiums will be deducted from wages on a pre-tax basis through the use of a Section 125 Cafeteria Plan.
Flexible Spending. A. The Employer shall make available to the employees covered in this Agreement, a flexible spending account program for medical and dependent care, in accordance with Internal Revenue Service guidelines. It is understood, by the parties, that the County’s responsibility is limited to the fiscal administration of this program and not to the tax liability, consequences, or responsibilities of the employees.
Flexible Spending. The Board agrees to establish and provide to employees a flexible spending benefit cafeteria fringe benefit program as provided in Section 125 of the Internal Revenue Code. The purpose of such program will be to: provide the framework for adding new benefits at minimal cost to the Board; offer flexibility to employees in the selection of fringe benefits that will permit each employee to tailor benefits to his/her individual needs; and to reduce taxes, thereby increasing spendable income. The effective date for employee benefits to begin under this shall be as soon as possible. Any monies in such program which are forfeited by law shall inure to the Board to offset the costs of administration.
Flexible Spending. Accounts will remain on the calendar year and will continue to have their open enrollment in November. In the initial transition year, the deductibles and out-of-pocket maximums that have accrued during the “short” plan year shall carry over for the first plan year based on the fiscal calendar. The accrued deductible and out-of-pocket maximum then shall reset back to zero on July 1, 2017. The District Annual Maximum (DAM) shall be converted to the fiscal year by taking the arithmetic average of the DAM for 2016 and 2017 calendar years. Example: 2016-2017 DAM = [(2016 DAM) + (2017 DAM)]/2 Effective July 1, 2017 the DAM will increase each July 1 by 3.5%.
Flexible Spending. The District has instituted flexible spending accounts for insurance deductibles, health care costs, and dependent care costs by employee contribution only. These FSAs would have limits on employee pre-tax contribution, i.e., $2,500 for health care expenses, and up to $5,000 for dependent care contributions per year. The plan year will be from July 1 to June 30 with annual enrollment. Any surplus left in these individual flexible accounts will be the property of the District and go first to plan administrative costs and losses to the employer with regard to these accounts. Employees must sign up yearly in June.
Flexible Spending. The Board will make available for the duration of the Agreement the opportunity for employees, who are eligible for health insurance, to participate in a Flexible Spending Account Plan. Employees enrolled in this Plan will be allowed to contribute up to $2,500.00 for the payment of non-covered medical expenses and $5,000.00 for dependent care costs on a pre-tax basis.
Flexible Spending. The Employer will continue to provide a Section 125 Flexible Spending Plan.
