Section 14-52-22 - Maximum annual amount of reimbursements or benefits(a) The maximum annual amount of reimbursement or benefits a participant may receive for eligible medical expenses shall be $2,750); provided that; (1) If both spouses are eligible employees and become participants of the plan, each may contribute a maximum annual amount of $2,750; and(2) The $2,750 shall not include the participant's monthly administration fee nor any amounts carried over from a prior year as a limited rollover.(b) The maximum annual amount of reimbursement or benefits a participant may receive for employment-related dependent care expenses shall be as follows: (1) If the participant is not married at the close of the plan year, the maximum annual reimbursement shall be the lesser of $5,000 or the participant's compensation for the calendar year; and(2) If the participant is married at the close of the plan year, the maximum annual reimbursement shall be the lesser of: (A) $5,000 (or $2,500 in the case of a married participant filing a federal tax return separately from the participant's spouse);
(B) The participant's compensation for calendar year; or(C) The compensation of the participant's spouse for the calendar year; provided that if the participant's spouse is a full-time student or is incapable of caring for himself or herself as provided in the Code, and has no earned income, the spouse shall be deemed to have compensation of $250 per month if the participant has one dependent, or $500 if the participant has two or more dependents. The maximum annual reimbursement amount may be reduced by the participant's monthly administration fee and the amount of any tax-exempt dependent care assistance benefits received by the participant or the participant's spouse from any other employer during the plan year, as determined by the plan administrator.
[Eff SEP 13 1999] (Auth: HRS § 78-61) (Imp: HRS § 78-61)[Am and comp 12/2/2021] (Auth; HRS § 78-30) (Imp: HRS § 78-30)