Flex Plan - HRA

Flex Plan - HRA - 401k

R&R does not have medical insurance availableat this time, instead we have a Flex Plan and HRA.

Flex Plan -

R & R offers a premiums only flex plan, if you are enrolled in an insurance plan you can opt to flex the amount you pay towards the premium. By flexing this amount you would save on the taxes you pay on your wages.

Example: An employee earning $35,000/year - w/an insurance premium of $525/month can save between $1100 and $2000/year in Federal taxes and FICA, depending on the number of dependents.

Eligible after 3 months of employment with R & R.

HRA -

Health Reimbursement Account - This account reimburses the employee up to $200/month on health expenses-(premiums, deductible, prescriptions, dental, vision, etc) Any amount not used is rolled over to the following month and continues accruing until receipts for expenses are submitted. Receipts must be submitted to Nel by the 20th of the month and the reimbursement will be included in your pay the last week of the month.

Eligible after 3 months of employment with R & R

401K -

You may contribute 1% gross wages up to whatever % brings you up to $13,000/year. R & R will contribute 1/2 % of what you contribute up to 6%.

Example: If you contribute 6%, R & R will contribute another 3%! Make sure you are planning for the future, this is your retirement fund!!

You can open the 401K account immediately after being hired, but there will no contribution from R & R until after a year of employment with R & R.