Common use of MSP Clause in Contracts

MSP. The Company shall provide access to the British Columbia Medical Services Plan as an Optional Benefit under the Company’s Flexible Benefits Program as summarized in the following table. Funded Flex Credits or Payroll Deductions = 100% for Full-time Regular employees and 50% for Part- time Regular employees Taxable Depends on payment method, not taxable if paid by payroll deductions, taxable if paid by Flex Credits Opt Out Employees can opt out if covered under another plan. A portion of the Flex Credits are credited back to the employee for use elsewhere. Employee Eligibility Full-time Regular and Part-time Regular working 18.75 hours per week and/or a total of 37.5 hours bi-weekly Dependent Eligibility Spouse and Children (to Age 19 or full-time student to Age 25) Waiting Period 1st of the month following date of hire