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How NazFlex Works

As a participant in NazFlex, you have the opportunity to choose your benefits annually using benefit credits provided to you by the College, and your own pre-tax dollars.

Your specific benefit credits and your specific cost for each benefit option are shown on your personal NazFlex On-Line Enrollment Form. You should print and keep a copy of the Confirmation Form for your records.

The benefit credits provided to you by the College will be based on the medical option and level of coverage you choose.  If you choose no medical coverage, you will receive a "cash out" benefit, which you can use to purchase other benefits or take as a taxable benefit in your bi-weekly paycheck.

New full-time faculty and staff members who begin participation during the plan year will receive prorated benefit credits.  One-twelfth of the annual benefit credits will be provided for each month between the employee's participation date, and the plan year end, December 31.

If the cost of the benefit options you choose is less than the value of the benefit credits we provide, you do not have to make any contribution toward your NazFlex benefits.  The value of your unused credits will be paid to you bi-weekly as taxable income. 

If the annual cost of the benefit options you choose is more than your College provided benefit credits, you may pay the cost difference pre-tax through convenient payroll deductions.  Pre-tax means the cost difference will be taken from your pay before Federal, New York State and Social Security taxes are withheld.  This pre-tax advantage means most of the benefits you choose under NazFlex, even those you may buy in excess of your benefit credits, are tax-free.

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