The Codified Ordinances are hereby amended by the addition of certain options under a City sponsored flexible spending account plan (“flex 125 plan”) as follows:
(a) Existing Benefit. Employee health insurance contributions are tax sheltered via the flex 125 plan.
(b) Newly Available Options.
(1) Medical Savings Account. This section will permit employees to pay for medical expenses not covered by their insurance coverages with “before tax” dollars (i.e. co-pays, orthodontia expenses, pharmaceutical and chiropractic costs, etc.).
(2) Dependent Children. This section will permit employees to pay for dependent childcare with “before tax” dollars. The only requirement is that the provider be a registered provider and deduct taxes from their employees or pay taxes as a sole provider.
(c) Cost of Additional Flex 125 Plan Benefits. The cost for these additional options is estimated at $7.75 per month for each participating employee. Participation is voluntary and the City need only pay the monthly fee for any employee who elects to participate.
(Ord. 30-01. Passed 5-22-01.)