Salary Reduction Agreement

Wage reduction agreement: an agreement between the participant and the employer that provides for a reduction in the participant`s remuneration or the absence of an increase in remuneration to a level that the employer must pay into the participation account. The deadline for filing claims begins with the employee`s termination and expires 90 days after the date of termination. Health FSA (a) The maximum annual reimbursement amount an employee can choose for each planning year is $5,000.00. (b) The maximum annual amount of reimbursement that a participant may receive during the year is the annual amount of reimbursement chosen by the employee under the salary reduction agreement for FSA health insurance, so as not to exceed the amount indicated in point (a) above. An authorized staff member may choose to participate in the HSA benefit by enrolling in the high-deductible health plan. opening an HSA with the HSA agent/custodian appointed by the employer; and the decision to pay input VAT contributions to HSA in accordance with its wage reduction agreement. The plan entry date is the date after the employee files a pay reduction agreement or immediately after the service restrictions are met. The contribution to the wage reduction is a contribution that the employer makes under a wage reduction agreement. .

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