Optional Benefit definition
Examples of Optional Benefit in a sentence
Employees hired or promoted after the commencement of a plan year will be eligible for the Optional Benefit on a pro-rata basis the first day of the month following the twenty-eighth (28th) day of employment in an eligible classification.
Any benefit provided by an attached Optional Benefit Rider will not increase these values unless otherwise stated in that Rider.
Part-time employees whose normal workweek consists of twenty (20) hours or more will be eligible to receive fifty (50) percent of the Optional Benefit amount available to full-time employees.
Eligibility - a full-time regular, limited-term or probationary employee is eligible to receive the Optional Benefit provided he or she is continuously employed in a full-time capacity.
Any portion of the Optional Benefit allocated towards the health reimbursement category as outlined in Section 2.
Any portion of the Optional Benefit allocated towards the health reimbursement category as outlined in Section 3.C.5.a. will be subtracted from the amount the employee is eligible for under the County’s Health Care Reimbursement Account (if the employee participates) and subject to state and federal law, regulations and guidelines.
Eligible part-time employees shall be reimbursed in an amount not to exceed one-half of the Optional Benefit Plan for full-time managers.
Any portion of the Optional Benefit allocated towards the health reimbursement category in which claims are not incurred within the plan period shall remain County funds.
The Optional Benefit Plan is a cash allotment which allows employees the option to take the benefit as taxable cash and/or apply the allotment to the cost of non-taxable benefits as described in the Authority’s Section 125 Cafeteria Plan, based on personal preferences.
For the purpose of this Optional Benefit, the Insured Person’s parent will be considered as a Dependent Parent only if the parent is financially dependent on the Insured Person.