Full Flex Plans
Benefit options through the plan may be funded through a pure salary reduction of the employee's salary (with or without a salary gross-up), through employer provided credits, or a combination of the two.
GROUP PREMIUMS
The portion that the employee pays toward employer sponsored group coverage.
Eligible Premiums
- Health Premiums
- Dental Premiums
- Cancer Premiums
- Vision Premiums
- Accident Premiums
- Hospital Indemnity Premiums
- Intensive Care Premiums
- Term Life Insurance Premiums (employee only up to $50,000 death benefit)
- Disability Premiums
Flexible Spending Accounts (FSA)
INDIVIDUAL PREMIUM REIMBURSEMENT
Premiums for insurance policies that are employee owned (not employer sponsored or group sponsored through another employer). The policy may be for the benefit of the employee or any of his/her eligible dependents. NOTE: Employer credit dollars may not be used to fund this Flexible Spending Account.
Eligible Expenses
- Health
- Dental
- Vision
- Hospital Indemnity
- Cancer
- Medicare Supplement
- Health Supplement (GAP Plan)
- Intensive Care
- Disability *
- Accident
- Contact Lens Agreements
- Medical Discount Cards
*CAUTION: Any benefits received under this policy type will be taxed if you elect to pre-tax the premiums for coverage.
Non-Eligible Expenses
- Life Insurance (whole, term, universal)
- Policies with cash surrender value or return of premium
- COBRA from a previous employer
- Policies that are owned by someone other than the employee
- Spousal premiums through the spouse's employer
DEPENDENT CARE REIMBURSEMENT
Expenses incurred for the care of eligible dependents for the time the employee (and spouse, if applicable) are at work. Expenses may be for dependent children under the age of 13 or elderly or disabled dependents of the employee.
Eligible Expenses
- Care for dependents of gainfully employed guardians
- An individual living in the home (but not claimed as a deduction) who provides services while the employee is at work.
- Preschool
- All latch key programs
- Housekeeping or maid services if day care is provided at the same time.
- A day care and/or baby-sitting service complying with state guidelines
- Day camp or sports camp for the hours the parents are at work
Non-Eligible Expenses
- Educational programs for dependents
- Meals
- Overnight camps
- Field trips
- Child Support
MAXIMUM AMOUNTS THAT MAY BE ELECTED:
- $5,000 maximum per calendar year for single or married filing jointly, $2,500 for married filing separately. Please keep in mind any amounts set aside by a spouse with a Section 125 Plan are included as part of the maximum allowed to be pre-taxed.
- The election cannot exceed the earning of the lower paid spouse.
- Full time students with one child cannot exceed $250 per month, two children or more cannot exceed $500 per month (beginning in 2003).
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UNREIMBURSED MEDICAL REIMBURSEMENT
Any qualified medical expense for the employee or the employee's eligible dependents that is not covered by insurance.
Eligible Expenses (partial listing)
- Medical and dental plan deductibles and co-payments
- Mileage and parking fees associated with medical appointments
- Prescription drugs/co-payments
- Health club dues related to treatment prescribed by a Physician for a specific medical condition (Doctor's letter required)
- Vision care (eye exams, contacts, eye glasses, laser eye surgery)
- Prescription sun glasses
- Chiropractic care
- Dental expenses (exams, cleanings, fillings, crowns, etc.)
- Acupuncture
- Cost of maintaining a guide dog
- Hearing exams, hearing aids, other hearing expenses
- Orthodontic procedures (only if the procedure is medically necessary)
- Chemical dependency treatment and related therapy
- Psychotherapy
- Smoking cessation programs
Non-Eligible Expenses (partial listing)
- Cosmetic surgery or prescription
- Teeth bleaching
- Marriage counseling
- Uniforms
- Funeral expenses
- Maternity clothes
- Non-prescription vitamins
- Exercise equipment
- Hygiene items
- Items for general health
MAXIMUM AMOUNTS THAT MAY BE ELECTED:
- The employer may limit the amount of benefit to be made available per plan year.
- Benefits Design Group, Inc. Indemnification feature protects employers from potential loss in the event the employee voluntarily terminates before having had their full annual election payroll deducted.
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Benefits Design Group, Inc. offers 2 other Section 125 Flexible Benefit Plans:
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