The City of Lewiston sponsors a 125K Plan (IRS), also known as a flex or cafeteria plan, which allows employees to use pre-tax dollars to fund medical, dental, vision, and dependent care expenses.
This is an election that employees designate annually and is a voluntary benefit. All regular full-time employees are eligible. Employees will save on Federal, State, and Medicare taxes paid on their pre-tax payroll deduction contributions and/or health care premiums.
The maximum annual contributions allowed for 2016 are:
- Medical Flex: $2,550
- Dependent Care Flex: $5,000 for filing Married or $2,500 if filing Single