H ealth Care Spending Account Sample Clauses
A Health Care Spending Account clause establishes an employer-sponsored benefit that allows employees to be reimbursed for eligible health care expenses not covered by standard insurance plans. Typically, the clause outlines the annual contribution limits, eligible expenses such as prescription drugs, dental care, or vision services, and the process for submitting claims. Its core practical function is to provide employees with greater flexibility and financial support in managing out-of-pocket health care costs, thereby enhancing the overall benefits package and addressing gaps in traditional health insurance coverage.
H ealth Care Spending Account. Regular full-time and part-time (20/40 or greater) District employees the option to participate in a Health Care Spending Account (HCSA) Program designated 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 pre-determined amount of money from their paycheck, 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 benefits plans. HCSA dollars can be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance cannot be recovered by the employee. S ECTION 12 - PROBATIONARY PERIOD