The school will be offering employees the opportunity to purchase additional insurance through payroll deductions. Long term disability and other insurance will be offered from AFLAC (The website is http://www.aflac.com/ or http://www.knowquack.com/ might be more informative). We all have short term state disability insurance but you might want to buy long term disability. We will also be offering prepaid legal services. This is a service where you have access to an attorney for a small monthly fee: http://www.prepaidlegal.com/. Representatives of both vendors will be attending a staff meeting in the future to sign up interested employees.
Those who joined the new flexible spending account program have been given the information about the website. Go to www.ezflexplan.com/resourceone for further information.
Kathy
Monday, September 27, 2010
Friday, September 3, 2010
More on parking
The new permits are not yet available, please bring in your documentation so we are prepared to get them when they come out later this month. The City's website has the following warning: Don’t park in or too close to crosswalks. Did you ever see the sticker on the back of large trucks that says “If you can’t see my mirrors, I can’t see you.”? The same line-of-sight argument is true for drivers and pedestrians. If vehicles are parked in or too close to crosswalks, then drivers cannot see pedestrians entering crosswalks until it’s too late, and vice versa. That’s why there is a state statute that prohibits parking within 25 feet of crosswalks, and of course in them as well. With the extremely high volumes of pedestrian traffic in Hoboken, enforcement of this law is especially important. We all agree that a good parking space is tough to come by in Hoboken, but convince yourself now that any curb space less than 25 feet from the crosswalk is certainly not safe parking found. Don’t look for white marks on the curb and don’t fool yourself into thinking you’re “not that close”. The fee for this violation is a painful $54.00.
Flexible Spending Accounts (Flex Section 125 and 132 for Health, Dependent Care and Transportation): We have been informed that our administration of our own Section 125 Flexible Spending Accounts is not in compliance with the laws. We are in violation of HIPAA, IRS Regulations and ERISA. In order to comply with the law, we will be outsourcing our Flex Accounts at no additional cost to the school (employer tax savings will exceed costs) . Please fill out and sign the attached form if you wish to continue the Flex Plan. If not, your deductions will end in September and you may submit receipts to claim for reimbursement of the balance in your account.
Starting October 1, 2010, employees will need to send their receipts for Flexible Spending Plan health and dependent care expenses to the vendor. You will receive a welcome packet with instructions. We are switching from calendar year to school year plan. There will be a 2 ½ month grace period from July 1 to Sept 15 for you to submit receipts to use up your 2010-11 deductions. After that, any money remaining in your account will be returned to the Internal Revenue Service, as it was in the past.
The Flex Plan will continue onto a School Year Basis on July 1, 2011. At that point, deductions will be taken from July 1, 2011 to June 30, 2012.
Transit and parking reimbursements, (rather than the old TransitChex) will also be issued by the vendor. This will be based on a monthly payroll deduction. Also, please note due to Obama’s new Health Care Legislation, over the counter medications are no longer eligible for reimbursement under the health care flexible spending account, and the total allowable will be reduced to $2500 effective 2012.
Flexible Spending Accounts (Flex Section 125 and 132 for Health, Dependent Care and Transportation): We have been informed that our administration of our own Section 125 Flexible Spending Accounts is not in compliance with the laws. We are in violation of HIPAA, IRS Regulations and ERISA. In order to comply with the law, we will be outsourcing our Flex Accounts at no additional cost to the school (employer tax savings will exceed costs) . Please fill out and sign the attached form if you wish to continue the Flex Plan. If not, your deductions will end in September and you may submit receipts to claim for reimbursement of the balance in your account.
Starting October 1, 2010, employees will need to send their receipts for Flexible Spending Plan health and dependent care expenses to the vendor. You will receive a welcome packet with instructions. We are switching from calendar year to school year plan. There will be a 2 ½ month grace period from July 1 to Sept 15 for you to submit receipts to use up your 2010-11 deductions. After that, any money remaining in your account will be returned to the Internal Revenue Service, as it was in the past.
The Flex Plan will continue onto a School Year Basis on July 1, 2011. At that point, deductions will be taken from July 1, 2011 to June 30, 2012.
Transit and parking reimbursements, (rather than the old TransitChex) will also be issued by the vendor. This will be based on a monthly payroll deduction. Also, please note due to Obama’s new Health Care Legislation, over the counter medications are no longer eligible for reimbursement under the health care flexible spending account, and the total allowable will be reduced to $2500 effective 2012.
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