NC S395

Authorizes flexible compensation plans offered by the State Board of Education, State Board of Community Colleges, University of North Carolina Board of Governors, and the Director of the Budget to include TRICARE supplement options for eligible employees.

Modifies G.S. 115C-341.1, 115D-25.2, 116-17.2, and 126-95(b) to explicitly permit TRICARE supplements within existing flexible compensation plans under Section 125 of the Internal Revenue Code.

Requires any state entity offering a TRICARE supplement to use a competitive bid process for awarding contracts to third-party providers.

Mandates that the NC Flex plan administered by the Office of State Personnel offer a TRICARE supplement option no later than January 1, 2015.

Becomes effective upon enactment.