Health FSA Component definition

Health FSA Component means the component of this Plan described in Article VII.

Health FSA Component means the benefits of this Plan described in Article VII.

Health FSA Component means the component of this Plan described in Article VII. “Group Insurance Plan” means the plan(s) that the Employer maintains for itsEmployees (and for their Spouses and Dependents that may be eligible under the terms of such Plan), providing major medical type benefits through a group insurance policy or policies (including HMOs). The Employer may substitute, add, subtract or revise at any time the menu of such plans and/or the benefits, terms and conditions of any such plans. Any such substitution, addition, subtraction or revision will he communicated to Participants and will automatically be incorporated by reference under this Plan.

Examples of Health FSA Component in a sentence

• Under the Health FSA Component, a Participant may receive reimbursement for Medical Care Expenses incurred during the Period of Coverage for which an election is in force.

• Although reprinted within this document, the Health FSA Component is a separate plan for purposes of administration and all reporting and nondiscrimination requirements imposed by Code section 105.

• The Health FSA Component is intended to qualify as a "self-insured medical reimbursement plan" under Code section 105, and the Medical Care Expenses reimbursed thereunder are intended to be eligible for exclusion from participating Employees' gross income under Code section 105(b).

• An Eligible Employee can elect to participate in the Health FSA Component by electing (a) to receive benefits in the form of reimbursements for Medical Care Expenses from the Health FSA (Health FSA Benefits); and (b) to pay the Contribution for such Health FSA Benefits on a pre-tax salary reduction basis.

• The Health FSA Component is also a separate plan for purposes of applicable provisions of ERISA and COBRA.

• The Plan Administrator will establish and maintain a Health FSA Account with respect to each Participant for each Plan Year or other Period of Coverage who has elected to participate in the Health FSA Component, but it will not create a separate fund or otherwise segregate assets for this purpose.

• If COBRA is elected, it will be available only for the remainder of the applicable Period of Coverage; such COBRA coverage for the Health FSA Component will cease at the end of the Plan Year and cannot be continued for the next Plan Year.

• Notwithstanding the foregoing, the Health FSA Component will provide benefits in accordance with the applicable requirements of any QMCSO, even if the child does not meet the definition of Dependent.

• Under the Health FSA Component, a Participant may receive a distribution of all or a portion of the balance in the employee's account if the distribution qualifies as a "Qualified Reservist Distribution".

• All claims for reimbursement under the Health FSA Component will be paid in the order in which they are approved.

More Definitions of Health FSA Component

Health FSA Component means the benefits of this Plan described in Article VI.

Health FSA Component means the Component of this Plan described in the “Health FSA Component” section.

Health FSA Component means the component of the Plan providing the Health FSA Benefits, as described in Article VI. The Health FSA Component is also known as the “Health FSA Plan.”

Health FSA Component means the benefits of this Plan described in Article VII. "HIPAA" means the Health Insurance Portability and Accountability Act of 1996, as amended. "HITECH" means the Health Information Technology for Economic and Clinical Health Act.