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Health Net Gets IRS OK For Charitable Leave-Sharing Plan

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NU Online News Service, Oct. 24, 2:56 p.m. – Health Net Inc., Los Angeles, a managed care company, says the Internal Revenue Service has given it guidance permitting it to set up a charitable leave sharing-plan.

Health Net asked the IRS about the possibility of letting employees convert unused vacation time into charitable contributions shortly after the Sept. 11 attacks.

An employee can use the leave-sharing plan to donate the cash equivalent of up to five days of earned vacation time to two charities for victims of the Sept. 11 attacks.

The charities are the September 11th Children’s Fund and the Service Employees International Union Hotel Employees & Restaurant Employees Citizens Scholarship Foundation of America.