BENEFIT INFORMATION
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CHOOSING YOUR BENEFITS
WHY DO I PAY FOR BENEFITS WITH BEFORE-TAX MONEY?
Your portion of the cost of benefits is automatically taken out of your paycheck. There are two ways that the money can be taken out:
There is a definite advantage to paying for some benefits with before-tax money:
• BEFORE YOUR TAXES ARE CALCULATED – Medical, Dental, Vision, H.S.A and 403(b) contributions
Taking the money out before your taxes are calculated lowers the amount of your pay that is taxable. Therefore, you pay less in taxes.
• AFTER YOUR TAXES ARE CALCULATED – Life, Disability and Worksite Benefits
MAKING CHANGES
Generally, you can only change your benefit choices during the annual benefits enrollment period. However, you may be able to change your benefit choices during the plan year if you have a qualifying life event, such as:
Your marriage
• Change in your spouse’s work status that affects his or her benefits
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Your divorce or legal separation
• Change in your work status that affects your benefits
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Birth or adoption of an eligible child
• Change in your child’s eligibility for benefits
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• Death of your spouse or covered child
• Receiving Qualified Medical Child Support Order (QMCSO)
You must enter a life event via www.mybensite.com/amikids and notify AMIkids Benefit Department, in writing, within 31 days of the qualifying event. At this time you will also be required to provide appropriate documentation.
WHEN COVERAGE ENDS
Coverage will stop on the last day of the month in which employment with the company ends, you no longer meet the eligibility requirements, a covered dependent no longer meet the eligibility requirements, the plan ends, and/or failure to make required contributions outside payroll deductions (ex: on leave of absences).
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