eanes isd cafe plan and benefits
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EANES ISD- Cafeteria Planand Supplemental Benefits
Susan WinklerBenefits Consultant
Administrators:Bay Bridge AdministrationNational Plan Administrators
Cafeteria Plan
“Menu” of Benefits
Customized Benefit PackageAll Benefits operate independently.
Benefits Paid with Pre-Tax Dollars
Reduces your Taxes
Reduces Taxes
Example: $25,000-$1500
$23,500
WShows
Not
Increases
Contract Salary Cost of Benefits/Yr Net Taxable Salary
-2$23,500$25,000
Take Home Pay
Rules
Must be given Information and Opportunity
Must have a Signed Section 125 Benefit Election Form on file
Only make changes during Plan Year if you have a Qualified Family Status change.
30 day Grace Period
Other Details
Plan Year-
September 1st thru August 31st
Qualified Benefits
Insurance Plans Medical Dental Vision Cancer Protection Heart/Stroke Plan Accident Plan
Reimbursement Accounts
Non Qualified Benefits
Disability Income Protection
Group Life Insurance
Individual Life Insurance-Leaders Life
REIMBURSEMENT ACCOUNTS
Medical Expense Reimbursement Account (MRA)
Dependent Care Reimbursement Account (DCRA)
Reimbursement Accounts
You determine the amount that will be payroll deducted, and set aside in your account.
(MRA Max $6000/yr ; DCRA Max $5000/yr)
That amount is divided over the Plan Year, payroll deducted from each paycheck, and deposited into your account.
As you, or your dependents, incur expenses you can use your
account to pay the expenses. - Tax Free!!
Medical Expense Reimbursement
Out of Pocket Medical ExpensesOut of Pocket Medical Expenses for You and Dependents
(i.e. Prescription Medications, Co-pays, Deductibles, Dental work, Eye Care)
USE IT OR LOSE ITUSE IT OR LOSE IT-During Plan Year-Sept. 1st – Aug. 31st
No Carry OverNo Carry Over
Read Rules!Read Rules!
Dependent Care Reimbursement
Child Care Costs Child Care Costs
EANES ISD in-house childcare- No claimsEANES ISD in-house childcare- No claims
USE IT OR LOSE ITUSE IT OR LOSE IT
No Carry OverNo Carry Over
Read Rules!Read Rules!
Worksheet- Call Tax PreparerWorksheet- Call Tax Preparer
Reimbursement Accounts
Great Way to Save Money on Taxes
Be Careful – Use it or lose it
Read Rules - Ask questions
Supplemental Insurance Benefits
Dental Vision Group Life Individual Life Cancer Plan Heart/Stroke & Accident Plans Disability Income
DENTAL Plans- CompBenefits
DHMO
High PPO
Low PPO
www.compbenefits.com
Dental DHMO www.compbenefits.com
Pre-Select a Dentist $5 Office Visit charge Many Preventative at No Charge 25% - 60% Savings No claims forms, deductibles, or
maximums Ortho covered
Low PPO www.compbenefits.com
Choose Any Dentist, But…. Network Providers offer Best pricing No deductible on Preventative 1st Year benefits very limited 12 Mo. Waiting Period for Type 3 Pays 100%, 80%, or 50%; of PPO fees $1000 Max benefit per Year
High PPO
Choose Any Dentist Network Providers offer best pricing No deductible on Preventative Endo, Perio, and Oral Surgery- Type 2 12 Mo. Waiting Period- Major & Ortho Pays 100%, 80%, or 50% UCR $1500 Max benefit per Year $500 Max per Year for Ortho.
VisionCare - CompBenefits www.compbenefits.com
Choose an Approved Provider $10 Co-pay for Exam $15 Co-pay for Lenses & Frame $130 Allowance for Contact Lenses Wholesale Cost for Lenses & Frame
Upgrade Options(i.e. Tints, UV Coating, Progressive)
Out of Network benefits available
Group Life - BCS An inexpensive way to add life insurance coverage during your working years.
Optional Life -Up to 4 times salary to $560,000; Up to $50,000 for spouse
Children covered up to $10,000
Individual Life Plan
Leaders Life
New- Policies up to $150,000, simplified issue.
Employee, spouse, children, and grandchildren
30% benefit for Critical Illness
Cancer Protection - Humana
Pays in Addition to Other Coverage In and Out of Hospital Benefits Wellness Benefits Portable & Renewable for Life
Covers 32 Other Diseases
Serious Medical Conditions are Very Costly to Treat
Accident Policy &Heart/ Stroke Plan - Humana
Serious Medical Conditions can be Very Costly to Treat
These plans supplement your other coverage
Disability Coverage - Anthem
Income/ Paycheck Protection
Pays you a Benefit should you be unable to work because of an Injury, Illness, or Pregnancy
LONG TERM Disability
Pays up to 3 years for illnesses, and up to age 65 for injuries
Extended benefits available for illnesses to age 65
Disability Specs.
Guarantee Issue up to 2/3 SalaryUp to $7500
Pre-Existing Conditions may limit your benefits for the first year of coverage to a one month benefit.
Six waiting (elimination) periods to choose from-
0/3*, 14*, 30*, 60, 90 & 180 days*Waived if hospital confined.
Additional Disability Benefits
Daily Hospital Benefit: Pays $100 per day from 1st day of confinement
AD&D Benefit: $30,000
Doctor Visit Benefit: Up to $100 per visit, 4 per year
Additional Information Online
Detailed information, Claim forms, Contact information
Benefits Portal www.benebridge.com
Click on EANES ISD Choose List Benefits- for benefit details
Norma Hutchinson [email protected] Susan Winkler [email protected]