HRA Contribution. The district will provide a Health Reimbursement Account for all participating principals that will be available to fund expenses relating to deductibles or co-pays under the plan. The plan year shall run from October 1 through September 30 of each year and HRA contributions will be funded on October 1 at the levels set forth below: 1) The District shall contribute $1,000 per principal carrying single coverage, and $2,000 per participating principal carrying dependent coverage. 2) New principals starting service after the beginning of the plan year in October will receive an HRA contribution prorated by month based on the month of their first date of service. 3) Principals eligible for Employee Married to Employee (EME) coverage pursuant to 11.1 G. below, will receive an HRA contribution of $1,500 for each principal if in single coverage plans or $3,000 to the principal carrying a dependent coverage plan. 4) Principals will be allowed to roll over unused HRA dollars year-to- year up to a cap of two times the deductible for the selected single or dependent plan. At no time will a principal have access to HRA dollars in excess of the cap. 5) A principal eligible for retirement benefits at the time of separation from the District shall have one year to spend down any balance in the principal’s HRA account pursuant to the provisions of the plan.
Appears in 3 contracts
Sources: Master Agreement, Master Agreement, Master Agreement