Health Plan Waiver
If you waive health insurance coverage, the university automatically contributes $175 per month in a Health Care Flexible Spending Account. Eligible employees have the option to allocate funds in a Health Care or a Dependent Care account only.
Things to know about this benefit:
To be eligible you must be a regular full-time (80% or above) employee.
Health Care Flexible Spending Account funds may be used for employees and their dependents for medical, dental, vision, and pharmacy expenses.
- For a Dependent Care Account you must elect Dependent Care coverage. Otherwise, funds will automatically default to the Health Care Flexible Spending Account.
- Dependent Care Account funds can be used toward child care expenses for dependents under the age of 13 or elder care for an eligible adult.
- Health Care and Dependent Care spending accounts must be maintained separately. These funds cannot be transferred from one account to the other.
- Chard-Snyder is the plan administrator for this benefit. For additional questions, call 1-800-982-7715 or visit www.chard-snyder.com.