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Policy 602 - Flexible Spending Account and Premium Only Plan

Section: Benefits
Policy Number: 602
Responsible Office: HR/Benefits
Effective Date: 01/01/98
Revised: 01/01/02; 05/01/05

Scope

All full-time administrators and staff are eligible to participate in the Flexible Spending Account and Premium Only Plan.

Summary

A “Flexible Spending Account” allows an eligible employee to pay for certain expenses by setting aside pre-tax dollars from each paycheck. Eligible expenses fall into two categories: health care expenses and dependent care expenses.

The “Premium Only Program” allows an eligible employee to pay for premium expenses under the University’s medical and/or dental plans with pre-tax dollars.

For information or summary plan descriptions, contact the Benefits hotline at extension 2363. If anything stated in this policy differs from the information contained in the plan documents, then the plan documents supersede this policy.

St. John's University, New York
Human Resources Policy Manual