8.15 – Pre-Tax Premium Plan

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Details

Scope: NMSU System

Source: ARP Chapter 8 | HR-Benefits

Rule Administrator:

Last Updated: Not Available

Related

Cross-Reference:

Revision History:

2017 Recompilation, formerly Rule 7.24

The Pre-Tax Premium Plan allows employees enrolled in the university’s health and dental insurance programs to decrease their taxable income by the amount of the employee portion of premiums.  This plan is subject to guidelines set forth by the United States Internal Revenue Service.  Employees must either enroll in or waive coverage within their first 31 days of employment.  If an employee does not complete a form to either enroll in or waive coverage, the employee will waive their right to enrollment in the plan and will not be allowed to enroll until the next open enrollment period held in the spring of each year.  Employees may make changes to their coverage (including termination of the plan) during the open enrollment period held in the spring of each year with changes going into effect on July 1.  Enrollment in this plan limits the employee’s ability to add, change or delete coverage in the health and dental insurance programs.  See the benefit booklet provided in the Employee Benefits Office for more information.