Question 1

What are the eligibility requirements for the Section 125 plan?

admin · Accepted Answer

The plan’s eligibility requirements should be the same as your group insurance plan(s). Employees will become eligible for the Section 125 plan on the same date as they are eligible for the group insurance plan.

While FlexBank’s documents include language automatically enrolling employees in this pre-tax program when they sign up for the group insurance, many employers obtain a signed and dated enrollment form before an employee’s first pre-tax payroll deduction. FlexBank will provide you with an enrollment form along with your document package.

Question 2

What are the eligibility requirements for the Section 125 plan?

admin · Accepted Answer

The plan’s eligibility requirements should be the same as your group insurance plan(s). Employees will become eligible for the Section 125 plan on the same date as they are eligible for the group insurance plan.

While FlexBank’s documents include language automatically enrolling employees in this pre-tax program when they sign up for the group insurance, many employers obtain a signed and dated enrollment form before an employee’s first pre-tax payroll deduction. FlexBank will provide you with an enrollment form along with your document package.