A classification is the area of your Health Spending Account that houses the benefit limit. Each employee who is enrolled in the plan will be placed in a classification and given the corresponding benefit limit.
Does each employee have their own individual classification?
As the Benefit Coordinator, you can decide how to set up the classifications. The important note is that all employees in a classification will receive the same benefit limit. Examples of classifications are:
Based on employment status (Executive, Management, Full-Time)
Type of position in the company (Manager, Supervisor, Employee, Welder, Associate)
Years employed (1-3 years, 4-6 years etc.)
Individual employees (each employee has their own classification)
Where can I see what classifications I currently have set up?
Log into your MyOlympia account, click on Manage then click on Manage Classifications. Here you will see your full list of classifications along with their corresponding benefit limit.