Bethel FLEX

Under the terms of Bethel's Flexible Benefits Plan (FLEX), you receive choices in your benefit program as well as flexibility in how to pay for those choices. Under FLEX, you may choose to receive your full compensation in cash, or you may elect to have a portion of your pay set aside before any taxes have been deducted to be applied to the payment of your share of insurance premiums or contributed to Health Care and/or Dependent Care, Health Savings Account Reimbursement Accounts. The advantage of FLEX is that it allows you to elect certain nontaxable benefits as alternatives to cash compensation which would be taxable. These benefits are then not subject to federal income or Social Security taxes.

Pre-tax Premium Conversion

You may elect to have your health, dental and/or supplemental life insurance premiums deducted on a pre-tax basis. Such deductions are automatically set up on a pre-tax basis and you must affirmatively decline pretax treatment of these deductions should you prefer post tax deductions. Before-tax health, dental and life insurance premium deductions automatically rollover from one plan year to the next after initial enrollment.

Flexible Spending Accounts

Health Care Flexible Spending Accounts and Dependent Care Flexible Spending Accounts function as follows:

Prior to the beginning of each calendar year, the employee estimates the health care and/or dependent care expenses anticipated for that calendar year. They submit an enrollment for that amount for each account (if applicable) at the end of the current year to be deducted equally from each payroll check during the following calendar year. Enrollment must be completed by each eligible employee on a timely basis. Elections cannot be changed during the plan year unless the employee has an associated, reciprocal family status change or qualifying event. The IRS specifies that election changes during the plan year must be on account of and consistent with the eligible change in status.

The amount elected by the employee is deducted from his or her paycheck before taxes. Incurred eligible expenses are paid by the employee and submitted to Bethel's flexible spending account provider. Reimbursements are processed in tax-free dollars.

Expenses must be incurred during the calendar "plan" year and while you are an active employee of Bethel. Expenses incurred after employment ends are not reimbursable unless you continue the Health Care spending account under COBRA at your own expense. The Dependent Care spending account can not be continued beyond your last day of employment.

Health Care Carryover Amount:

The minimum carryover amount is $20.00 (only applies to people who are not enrolled in the new plan year). The maximum carryover amount changes each year. Employees will be notified during open enrollment of the maximum carryover amount for that year.

Dependent Care Carryover Account:

Any money remaining at the end of the plan year is forfeited. It is important that participants estimate dependent care expenses carefully.  See the Flexible Benefit Plan Summary for more details.