Res05 14665 - Laserfiche WebLink

Browse Search

If the cost of a benefit provided under the Plan increases or decreases during a Plan Year, then we will automatically increase or decrease, as the case may be, your salary redirection election. If the cost increases significantly, you will be permitted to either make corresponding changes in your payments or revoke your election and obtain coverage under another benefit package option with similar coverage, or revoke your election entirely. If the coverage under a Benefit is significantly curtailed or ceases during a Plan Year, then you may revoke your elections and elect to receive on a prospective basis coverage under another plan with similar coverage. In addition, if we add a new coverage option or eliminate an existing option, you may elect the newly -added option (or elect another option if an option has been eliminated) and make corresponding election changes to other options providing similar coverage. If you are not a Participant, you may elect to join the Plan. There are also certain situations when you may be able to change your elections on account of a change under the plan of your spouse's, former spouse's or dependent's City. These rules on change due to cost or coverage do not apply to the Health Care Reimbursement Plan, and you may not change your election to the Health Care Reimbursement Plan if you make a change due to cost or coverage for insurance. You may not change your election under the Dependent Care Assistance Program if the cost change is imposed by a dependent care provider who is your relative. 7. May I Make New Elections in Future Plan Years? Yes, you may. For each new Plan Year, you may change the elections that you previously made. You may also choose not to participate in the Plan for the upcoming Plan Year. If you do not make new elections during the "election period" before a new Plan Year begins, you will not be considered a Participant for the non - insured benefit options under the Plan for the upcoming Plan Year. IV BENEFITS 1. What Benefits Are Available? Under our Plan, you can choose to receive your entire compensation or use a portion to pay for the following benefits or expenses during the year: Health Care Reimbursement Plan: The Health Care Reimbursement Plan enables you to pay for expenses which are not covered by our insured medical plan and save taxes at the same time. The account allows you to be reimbursed by The City for out -of- pocket medical, dental and /or vision expenses incurred by you and your dependents. The expenses which qualify are those allowed under Sections 105 and 213(d) of the Internal Revenue Code, including "over- the - counter" drugs. A list of covered expenses is available from the Administrator. You may not, however, be reimbursed for the cost of other health care coverage maintained outside of the Plan, or for long -term care expenses. The most that you can contribute to your Health Care Reimbursement Plan each Plan Year is $8,000. In order to be reimbursed for a health care expense, you must submit to the Administrator an itemized bill from the service provider. Amounts reimbursed from the Plan may not be claimed as a deduction on your personal income tax return. Reimbursement from the fund shall be paid at least once a month. 4 T_._