PRE-TAX PREMIUM PLAN
Benefits effective on the day Medical/Dental/Vision benefits effective
Eligibility - regular employees working 20 hours per week (.5 FTE) or more
Enrollment form required
(Reference Policy 7.24)
The Pre-Tax Premium Plan is offered to all NMSU employees enrolled in the NMSU Medical, Dental and Vision plans. The Pre-Tax Plan allows employees to have their medical and dental premiums (excluding domestic partner portions of the premium) deducted from their salaries before income taxes are calculated. By using the pre-tax method for premium payments, employees can reduce their taxable income, and through tax savings, lessen the impact of insurance cost on their spendable income.
Once enrollment in the Pre-Tax Premium Plan is completed, the Plan remains in effect:
- during the employee's entire employment at NMSU, unless cancelled during the switch enrollment period, or;
- unless the employee has a change in status that changes the cost of the medical of the medical and dental insurance premiums. The change must be consistent with the change in status.
Participation in the Pre-Tax Premium Plan is based on individual employee evaluation of income and tax consequences. Employees may want to consult a tax advisor before making an enrollment decision.
NOTE: This is a summary description of benefits available to New Mexico State University employees. This document does not set a contractual commitment of benefits. If you have any questions concerning benefits, please refer them to the Benefit Services Department.
For more details on the benefit programs please refer to Chapter 7 of the NMSU policy manual.
- Benefit Services
- MSC 3HRS * P.O. Box 30001 * Las Cruces, NM 88003 * Hadley Hall, Room 14
- (575) 646-1741 * benefits@nmsu.edu