Flexible Benefits Plan and Effective Dates
The Flexible Benefits Plan offered under the Internal Revenue Service (IRS) 125 regulations allows employee benefit contributions to be made on a pre-tax basis. The plan includes options for medical, dental, life, long-term disability insurance, and Flexible Spending Accounts.
- Flexible benefits are effective on the 1st of the month following date of hire, provided enrollment is completed within 30 days of the hire date
- If enrollment is completed between the 31st and 60th day, benefits are effective the first day of the month following completion of enrollment
- If you fail to meet the enrollment deadlines as noted above, you will have no election for medical and dental insurance. You will be enrolled in the 1.5 times life insurance/AD&D and the 60% long term disability option
- You would be able to make changes to your elections during the next open enrollment period and/or if you experience a qualifying life event as defined by the IRS