Employee Benefits Fringe Benefits University of Arkansas Cafeteria Plan Policy Number: C.E.S.P. 8-21 Date Revised: 5-24-2005 Supersedes: 10-1-2004

 

Summary: Establishes policies and procedures for participation in the University of Arkansas Cafeteria Plan.

The University of Arkansas Cafeteria Plan, established under Section 125 of the Internal Revenue Code, permits employees to pay for certain eligible expenses before taxes. When you pay for these expenses with pre-tax salary, you pay no social security, state, or federal tax on your contributions. The eligible expenses that may be paid with pre-tax salary are:

• Employee portion of group medical and dental insurance premiums

• Out-of-pocket medical expenses (Flexible Spending Account)

• Certain dependent care expenses (Flexible Spending Account)

Employees have an opportunity to enroll in the plan annually.

For determining the amount to be set aside in the Flexible Spending Accounts, you should be conservative. The Internal Revenue Service requires that any unused funds remaining in the account at the end of the year are forfeited and returned to the employer. This means it is a "use it" or "lose it" situation.

Request for Reimbursement

Claims for reimbursement for dependent care and out of pocket medical expenses are processed by Conexis Cafeteria Plan Services.  The following section 125 Cafeteria Plan reimbursement request forms are available as templates:

• Cafeteria Plan – Dependent Care Reimbursement Request (2006) or (2007)

• Cafeteria Plan – Health Care Reimbursement Request (2006) or (2007)

Return to Fringe Benefits Index

Return to Employee Benefits Index

Return to Policy Manual Home