Flexible Spending Account Option definition

Flexible Spending Account Option means the Medical Expense Reimbursement Account Option or Dependent Care Assistance Account Option described in Article V.
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Examples of Flexible Spending Account Option in a sentence

  • A Participant's Account under a Flexible Spending Account Option shall be reduced by the amount of claims paid from the Account.

  • Each Flexible Spending Account Option shall operate in all respects in accordance with the rules applicable to a “flexible spending arrangement” as set forth in Proposed Income Regulation Section 125-5(a) and any successor IRS regulations and guidance.

  • If a Participant elects benefits under a Flexible Spending Account Option for any Period of Coverage, the Administrator shall establish an Account on the books of the Plan with respect to his or her election and shall maintain the Account in accordance with the rules set forth below in this ArticleV.

  • The claims procedures for this Plan shall apply to (i) any partial or total denial of benefits under any Flexible Spending Account Option, and (ii) any denial of benefits due to an issue germane to the claimant's coverage under the Flexible Benefits Plan (e.g., whether a Change in Status has occurred).

  • In the case of benefits elected under any Flexible Spending Account Option, the Compensation reduction shall equal the amount of benefits elected by the Participant under that Option.

  • Except as hereinafter provided, an individual shall cease to be a Participant with respect to a Flexible Spending Account Option and become an Inactive Participant with respect to same when he or she ceases to be a Participant pursuant to Section 3.2 or when his or her election for benefits under that Flexible Spending Account Option expires, whichever first occurs.

  • Notwithstanding any provision herein to the contrary, no Participant may reduce his or her election for benefits under any Flexible Spending Account Option below the amount already reimbursed under that Flexible Spending Account Option for the Period of Coverage.

  • Notwithstanding any provision herein to the contrary, no Participant may reduce his or her election for benefits under any Flexible Spending Account Option below the amount already reimbursed under such Plan for the Period of Coverage.

  • Except as hereinafter provided, an individual shall cease to be a Participant in a Flexible Spending Account Option and become an Inactive Participant in that Flexible Spending Account Option when he or she ceases to be a Participant under the Flexible Benefits Plan pursuant to Section3.2 or when his or her election for benefits under that Flexible Spending Account Option expires, whichever first occurs.

  • In the case of benefits elected under any Flexible Spending Account Option, the Compensation reduction shall equal the amount of benefits elected by the Participant under that Plan.

Related to Flexible Spending Account Option

  • Medical flexible spending arrangement means a benefit plan

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Premium payment plan means a benefit plan whereby state and

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • Investment Plan means the document in terms of which the special purpose vehicle will invest in unlisted investments and all matters incidental thereto;

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Payment Plan means the schedule of payment prescribed in Schedule C;

  • Distribution Reinvestment Plan means the distribution reinvestment plan of the Company approved by the Board and as set forth in the Prospectus.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • 401(k) Plan has the meaning set forth in Section 6.10.

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Restoration Plan means all technical and organisational measures necessary for the restoration of the system back to normal state;

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Parent Plans has the meaning set forth in Section 6.4(c).