N.C. Department of Correction--Correction News--April 1997
NC Flex $aves You Money
You'll save 28% or more on NC Flex benefits. The NC Flex program provides tax savings for employees in all tax brackets. The pre-tax deductions for the flexible spending accounts and the dental coverage are classified as employer contributions, which qualify as tax deductions. Because the employee's pay is reduced, so are the taxes. NC Flex currently offers four benefits:
(1) Health Care Flexible Spending Account--Through the convenience of a payroll deduction, you place your money into an account on a pre-tax basis and when you or an eligible dependent have health care expenses not covered by insurance, you file a claim for full reimbursement.
(2) Dependent Care Flexible Spending Account--Through the convenience of a payroll deduction, you place your money into an account on a pre-tax basis and when you have eligible dependent care expenses, you file a claim for full reimbursement.
(3) Pre-tax Dental Coverage--Comprehensive dental coverage at a lower rate than an after tax plan
(4) Discount Vision Benefit--Cost-free, premium-free benefit which allows 20%-60% discounts on eyeglasses, contact lenses and eye examinations
IMPORTANT NOTE: As a direct result of employee suggestions, the NC Flex program is planning to add accidental death and dismemberment insurance coverage to its benefit plans for 1998.
All State employees, working 20 or more hours per week in a permanent, probationary, or time-limited position, are eligible to participate. New employees may enroll within 30 days of hire. Current state employees may enroll during the Fall open enrollment period. In 1997 alone, over 27,000 state employees took advantage of the tax savings offered in NC Flex.