5/2/2023 0 Comments B.w.h. time for changeThe health care account yearly maximum is $2,650 (pretax), and the dependent care account yearly maximum is $5,000 per family (pretax). FLEX for Your Personal BenefitĮmployees are eligible to establish a pretax reimbursement account for health care and/or dependent care expenses. Employees are also able to purchase coverage for spouse and/or dependents. Employees can purchase additional life insurance and/or accidental death and dismemberment insurance to increase their level of coverage. The Institute provides basic life insurance coverage. Life/Accidental Death & Dismemberment Insurance The health care account yearly maximum is $3,000 (pretax), and the dependent care account yearly maximum is $5,000 per family (pretax). Credits are prorated for part-time employees.Įmployees are eligible to establish a pretax reimbursement account for health care and/or dependent care expenses. To be eligible for benefits, employees must be regularly scheduled to work at least 20 hours a week. Employees must elect health care coverage through the Institute to receive the medical participation credits.īasic credits, which are used to purchase your other benefits. The credits vary depending on what type of health care coverage you elect. Medical participation credits, which are used to purchase health care coverage. Two types of benefit credits are available under FLEX: Faculty and staff are eligible for two types of flexible spending accounts.įLEX is a comprehensive program that lets employees choose how to allocate benefits credits that the Institute provides as part of the total compensation package.
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