Under NUFlex this money is the employee's to distribute according to individual need. If an employee's benefit and reimbursement account choices add up to less than the employee's allowance of NUCredits, the employee will receive the remaining amount as taxable cash, paid in the regular paycheck. If an employee chooses a level of benefits that adds up to more than the amount of NUCredits, part of the regular pay may be converted to pretax dollars to pay for benefits and to reduce taxable income. The exception to this is the dependent life insurance benefit, which is most beneficial if premiums are paid with after-tax dollars. Under NUFlex each benefit option has a price tag.
Price tags reflect the individual differences and needs of employees.
It is important to note that the choices an employee makes will be in effect for the entire calendar year. Amount contributed to the Reimbursement Account. Evidence of insurability may be required. Amount contributed to the Reimbursement Account. Evidence of insurability may be required.