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Flexible Benefits Program - Central Virginia Community College

Flexible Benefits Program

  • Premium Conversion (Pre-Tax Premiums) lowers your taxable income because health insurance premiums are deducted from your paycheck before taxes are calculated. ($3.67 charge per pay)
  • Flexible Reimbursement Accounts
    (Flexible Spending Accounts) allow you to set aside part of your pay each pay period on a pre-tax basis for one, or both, of these accounts:
    • Medical Reimbursement Account to pay for the out-of-pocket medical, dental, and vision care expenses not covered by your health benefits plan.
    • Dependent Care Reimbursement Account to pay expenses for the care of your child, disabled spouse, elderly parent, or other dependents who are physically and mentally incapable of self-care so that you (and your spouse) can work or actively seek work.

Since the Flexible Benefits Program has tax advantages, there are tax laws and Internal Revenue Service regulations governing how the program operates. For more detailed information or clarification, see your Human Resource Office.


FOR MORE INFORMATION:

Click one of the following links:

Contact the Human Resources Office:
Central Virginia
Community College

3506 Wards Road
Lynchburg VA 24502-2498

Phone: 434.832.7611
FAX: 434.832.7626
Email: click here

Located in Appomattox Building, 1103