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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 260. Office of Management and Enterprise Services |
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Chapter 40. Employee Benefits Department |
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Subchapter 24. Health Savings Account |
SECTION 260:40-24-11. Benefit changes
Latest version.
- (a) A participant shall be entitled to modify the health savings account election after a period of coverage has commenced for which the election applies or make a new election, subject to acceptance by the Plan Administrator, with respect to the remainder of the current period of coverage, if the modification or new election is on account of and corresponds with a permitted elections as provided in IRC 223.(b) The participant shall furnish the Plan Administrator with information and documentation relative to a request for a change in enrollment. The Plan Administrator shall determine whether a change in benefit election meets the criteria thereunder and is permitted by the Internal Revenue Code and regulations promulgated thereunder and is allowed by the Plan.(c) The employee must provide a request to make a change via the authorized submission procedure as defined by the Plan Administrator.