8.5 Flex Benefits
Approved by Administration, Consultation: Academic Council
In accordance with federal guidelines, the University offers a Flexible Benefits Plan which allows employees to set aside pre-tax dollars for certain unreimbursed health related expenses, dependent care expenses and eligible transit or parking expenses. Health care and dependent care flexible spending accounts have annual limits of up to $5,000 per year. Contact DHR for the monthly maximum for the Transit/Vanpooling plan or the Parking Spending Accounts. Expenses related to these categories may be paid with "tax free" dollars thereby resulting in savings to the employee.
Allowable health and dental premiums will be automatically processed by the Payroll Department as non-taxable under the Flexible Benefits Plan unless the employee signs a waiver declining this service. The University will pay administrative fees for medical and dependent reimbursement accounts. Further information on this plan is available from the DHR.