Health Care Reimbursement Accounts and IRS Code Section 125 Benefits Sample Clauses

Health Care Reimbursement Accounts and IRS Code Section 125 Benefits. The Company agrees to provide IRS Code Section 125 benefits for its employees. This includes pre-tax dollars for an employee’s portion of health and benefits premiums. Effective January 1, 2008, the Company will match actual employee contributions into the flexible spending account, health care reimbursement plan, of up to a maximum of $200 per calendar year. Annually, the Company will fund a Health Reimbursement Account (HRA) for employees who are enrolled in the PPO plan.  Unused HRA funds roll over from year to year, if enrolled in the medical plan.  Unused HRA funds may continue to be available if the employee separates from the Company after age 55 with 5 yrs of service or if laid off at any age.  The HRA is not limited and may be used for any IRS eligible medical expense (IRS Pub 502). Physical Exam - $200 for employee; $200 for spouse (spouse must participate in medical plan).  Must provide evidence of a physical exam between 1/1/12-11/1/13 to the Company’s wellness vendor for 2014 and 2015 credits. Physicals are only required every two years. Biometrics - $100 for employee; $100 for spouse (spouse must participate in medical plan).  Must provide biometric numbers taken in 2013 to Company’s wellness vendor by 11/1/13 for 2014 credit. Requirements are on an annual basis. Health questionnaire - $50 for employee; $50 for spouse (spouse must participate in medical plan).  Must complete questionnaire available on Company’s wellness vendor’s website by 11/1/13 for 2014 credit. Requirements are on an annual basis. Non-Tobacco User - $150 for employee, $150 for spouse (spouse must participate in plan).  Must certify during annual enrollment that employee or spouse has been “Tobacco-free” for past 3 months, or enrolled in a tobacco cessation program before close of open enrollment for 2014 credit. Requirements are on an annual basis.
Sample 1
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Health Care Reimbursement Accounts and IRS Code Section 125 Benefits. ‌ The Company agrees to provide IRS Code Section 125 benefits for its employees. This includes pre-tax dollars for an employee’s portion of health and benefits premiums. Effective January 1, 2008, the Company will match actual employee contributions into the flexible spending account, health care reimbursement plan, of up to a maximum of $200 per calendar year.
Sample 1

Related to Health Care Reimbursement Accounts and IRS Code Section 125 Benefits

  • 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.

  • Health Care Benefits (a) Each regular full-time employee may elect coverage for himself and his eligible dependents* under one of the following health insurance plans:

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • HEALTH AND INSURANCE BENEFITS 22.01 All health and insurance benefit premium costs paid by the Employer shall prorate in accordance with the proration formula under Article 22.12 of this Agreement. Same sex spouse is eligible to be a dependent for insured benefits.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • Health and Dental Benefits ‌ During the term of this MOU, the City will provide benefits to all half-time employees as defined by Article 4.1 (Part-Time Employment) of this MOU in accordance with the Civilian Modified Flexible Benefits Program (Flex Program) and any modifications thereto as recommended by the Joint Labor-Management Benefits Committee (JLMBC) and approved by the City Council. During the term of this MOU, the City agrees that it will not unilaterally impose a reduction in plan design or benefits for any benefit plan applicable to employees covered by this MOU. Nothing in this MOU, however, shall prevent the parties from jointly reaching agreement on plan design or benefits applicable to employees covered by this MOU. Additionally, nothing in this MOU constitutes a waiver by the Union or the City with respect to making changes to plan design or benefits. If there are any discrepancies between the benefits described in this Article and the Flex Program approved by the JLMBC, the Flex Program benefits will take precedence.

  • Health and Dental Premium Accounts The Employer agrees to provide eligible employees with the option to pay for the employee portion of health and dental premiums on a pretax basis as permitted by law or regulation.

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • 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.

  • Dental Care Benefits (a) The Employer shall provide such regular, full-time seniority employee (and her eligible dependents*) the 100/75/50 Co-Pay Dental Plan in effect January 1, 2014, subject to such terms, conditions, exclusions, limitations, deductibles, co-payments and other provisions of the plan. The Employer shall pay 95% of the illustrated premium cost of such benefits and the employee shall pay the balance. Coverage shall commence on the day following the employee's ninetieth (90th) day of continuous employment.

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