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LACERA was established on January 1, 1938, following passage of the County Employees Retirement Law of 1937 (CERL), which mandates LACERA to pay for the defined retirement benefits of Los Angeles County employees and their beneficiaries. [1] [3] In 1971, LACERA began administering a retiree healthcare benefits program. [1]
In 1998, L.A. Care became involved in the Healthy Families program, California's version of the Children's Health Insurance Plan (CHIP), and then in 2003 launched L.A. Care's Healthy Kids program for children ages 0–5, funded in partnership with First 5 LA and the Children's Health Initiative of Greater Los Angeles. Healthy Kids was ...
Employee benefits in the United States include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401(k), 403(b)); group term life insurance and accidental death and dismemberment insurance plans; income protection plans (also known as ...
Benefits – Employee benefits refer to the non-wage advantages offered by employers alongside standard salaries or wages. The benefits included in this total compensation package are designed to attract, retain, and motivate employees, while also improving their well-being and job satisfaction.
By being well-informed, employers can better design health plans to encourage employees to get the care they need at the highest quality and lowest price. By being well-informed, employers can ...
Reimbursements may be tax free if the employee pays qualified medical expenses. Unused funds in the HRA can be rolled into future years for reimbursement. HRAs may be offered in conjunction with other employer-provided health benefits, including Flexible Spending Accounts (FSAs). Employees can be reimbursed for a health care plan that meets ...
One move you can make in terms of timing long-term care is signing up for long-term care insurance — and many experts recommend doing that as early as your mid-50s to lock in the best prices.
Therefore, if the employee experiences a qualifying event during the first period, the entire amount of the annual contribution can be claimed against the FSA benefits. If the employee is terminated, quits, or is unable to return to work, he or she does not have to repay the money to the employer. [19]