Policy Number: 4-73
Policy Name: FLEXIBLE BENEFITS
Date: December 1998
The University offers a cafeteria-style benefits program to full- time and part-time employees. The program is not available to visiting classifications at any time. The annual enrollment occurs in early May and new selections are effective the following July 1. The flex plan year extends from July 1 through June 30.
This program offers a variety of options for health, dental, life and disability insurance coverage. Employees are able to use UDollars provided by the University to assist in paying for the benefits selected. If the total cost of the options chosen exceeds the UDollars paid by the University, employees pay the difference in pre-tax dollars. If the total cost of the benefits selected is less than the UDollars provided, employees receive the difference as taxable cash. This program also makes available tax- saving opportunities through flexible spending accounts (FSAs) for employees who anticipate out-of-pocket medical, dental and/or dependent day care expenses.
Submitted by: Benefits Services