5 USC 8988 – Premiums
(a) Each eligible individual obtaining supplemental vision coverage under this chapter shall be responsible for 100 percent of the premiums for such coverage.
Terms Used In 5 USC 8988
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
(b) The Office shall prescribe regulations specifying the terms and conditions under which individuals are required to pay the premiums for enrollment.
(c) The amount necessary to pay the premiums for enrollment may—
(1) in the case of an employee, be withheld from the pay of such an employee;
(2) in the case of an annuitant, be withheld from the annuity of such an annuitant;
(3) in the case of a covered TRICARE-eligible individual who receives pay from the Federal Government or an annuity from the Federal Government due to the death of a member of the uniformed services (as defined in section 101 of title 10), and is not a former spouse of a member of the uniformed services, be withheld from—
(A) the pay (including retired pay) of such individual; or
(B) the annuity paid to such individual; or
(4) in the case of a covered TRICARE-eligible individual who is not described in paragraph (3), be billed to such individual directly.
(d) All amounts withheld under this section shall be paid directly to the qualified company.
(e) Each participating qualified company shall maintain accounting records that contain such information and reports as the Office may require.
(f)(1) The Employee Health Benefits Fund is available, without fiscal year limitation, for reasonable expenses incurred by the Office in administering this chapter before the first day of the first contract period, including reasonable implementation costs.
(2)(A) There is established in the Employees Health Benefits Fund a Vision Benefits Administrative Account, which shall be available to the Office, without fiscal year limitation, to defray reasonable expenses incurred by the Office in administering this chapter after the start of the first contract year.
(B) A contract under this chapter shall include appropriate provisions under which the qualified company involved shall, during each year, make such periodic contributions to the Vision Benefits Administrative Account as necessary to ensure that the reasonable anticipated expenses of the Office in administering this chapter during such year are defrayed.