|
An IRS Code Section 125
Flexible Benefits Plan allows you, the
Employee, to purchase Benefits that meet
your needs on a pre-tax basis. The
Benefits you can choose from under the
Flex Plan are listed on this page.
The Benefits you choose are then paid
for through a salary reduction agreement
with the School District of Lee County,
Florida. Salary reduction means
that you are able to use "pre-tax"
dollars to pay for those Benefits.
You may have previously purchased them
with a "after-tax" dollars.
How can this help you?
By
implementing a Flex Plan, The School
District of Lee County is helping you
reduce your taxes and increase your
spendable income. The cost savings
advantage of the plan is simple - any
benefit costs or insurance premiums
you pay under the Plan, are paid for on
a pre-tax basis.
The
following insurance Benefits may be
purchased under the Flex Plan with premium paid on a pre-tax
basis:
Group Health Insurance
Dental Insurance
Vision Insurance
Cancer Insurance
Enrolling in the Flex Plan does not
enroll you in the individual Benefits
listed above. You must complete an insurance application/enrollment form
for each benefit!
The
District's Flex Plan includes Spending
Accounts that allow you to be reimbursed
for certain types of expenses on a
tax-free basis. There are two (2)
types of Spending Accounts:
1)
Medical Expense
2)
Dependent
Care
(see their individual
Benefit Link for further details).
Who is eligible to participate in the
Flex Plan?
All regular
Employees of the School District of Lee
County who work 20 hours or more per
week are eligible to participate and are
automatically enrolled. However,
you do not have to participate.
Employees who do not wish to participate
have 30 days from their initial date of
eligibility or during the Plan Annual
Enrollment Period to waive out of the Plan by executing a Waiver of
Participation form.
May I change my Benefit elections or
Flex Plan election?
The Flex
Plan election you make remains in effect
for the entire Flex Plan Year (April
through March. You will only
be allowed to make a change in your Flex
Plan status during the designated Annual
Enrollment Period or as a result of a
qualified Family Status Change (see list
below). Therefore, if you are
enrolled in the Flex Plan, you will also
only be allowed to make changes to any
of the Benefits available under the Flex
Plan (i.e. health, dental, vision, etc.)
as a result of a qualified Family Status
Change or during the Annual Enrollment
Period. Any changes requested
as a result of a qualified Family Status
Change, must be on account of and
consistent with the qualifying event.
Your
request to make any changes must be
received in Insurance & Benefits:
The
following events are qualified Family
Status Changes:
Events that change an Employee's legal
marital status, including marriage,
death of his or her spouse, divorce.
Events that change an Employee's number
of Dependents (as defined in Code Section 152), including birth, adoption,
placement for adoption, or death of a
Dependent;
Events that change employment status of
the Employee, the Employee's Spouse, or
the Employee's Dependent, including
termination or commencement of employment, going from part-time to
full-time of the reverse, a strike or
lockout,
a commencement of or return
from an unpaid leave of absence, or
changes made during open enrollment
periods that affect your Dependents
coverage;
Events that change an Employee's
dependency status, causing a Dependent
to satisfy or cease to satisfy
Eligibility requirements for coverage on
account of attainment of age, student
status, or any similar circumstance.
Events that significantly change a
Dependent's employer-provided group
coverage.
PLEASE
NOTE>>>>>> The
loss of Healthy Kids is a qualified
family status to add coverage.
However, the gain of
Healthy Kids is NOT A QUALIFIED
FAMILY STATUS CHANGE TO TERMINATE COVERAGE.
|
