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Medicash Information
11/03

 

 

From Human Resources:

Medicash is a cash benefit in lieu of Health Benefits offered by Santa Rosa Junior College.   Medicash Benefit is in the amount of $150.00 (pro-rata for part-time employees) as monthly cash compensation. This cash compensation is:

•  a taxable benefit payable to the employee

•  subject to STRS retirement but does not add additional service credit in excess of 1.00 FTE

•  NOT subject to CalPERS retirement

Election is an annual election and can only be changed during a calendar year if there is a qualifying event.

Employees who elect the Medicash coverage, will not be eligible to participate in the retiree health benefits plan.   Participation in the Medicash Option must be terminated one year prior to retirement and employee must enroll in the District's Health Insurance Plan to sustain eligibility for any retiree health benefits.

From Becky Brown:

According to Deepa Desai in Payroll, "Due to AB1700 STRS allows the % contribution for these moneys to go into some type of supplemental account similar to a 403B. The $150/mo does NOT get included in the salary used for the STRS retirement formula. However, CalPERS won't accept this kind of "cash in lieu of" arrangement, period." 

So, there's apparently nothing we can do at this time about the different handling between STRS and PERS.

Also, according to the Memorandum of Understanding that SEIU and the District signed on 11/22/02, "A staff member is eligible for the Medicash Option if that person has verifiable health plan coverage through a source other than a spouse or domestic partner who is an employee of the District."


Site Maintained By: Jeff Basham, jbasham@santarosa.edu, 707-524-1750