BENEFIT INFORMATION
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CHOOSING YOUR BENEFITS
You must actively choose any benefit that you pay for, or share in the cost with The Company. Your part of the cost is automatically taken out of your paycheck. You are responsible for making sure that your pay covers the cost of the benefits you choose.
WHY DO I PAY FOR BENEFITS WITH BEFORE-TAX MONEY?
There is a definite advantage to paying for some benefits with before-tax money:
Based upon your elections, you authorize the appropriate payroll adjustment accordingly.
There are two ways the money can be taken out:
Taking the money out before your taxes are calculated lowers the amount of your pay that is taxable. Therefore, you pay less in taxes.
• BEFORE YOUR TAXES ARE CALCULATED – medical, dental, and vision
• AFTER YOUR TAXES ARE CALCULATED – voluntary life and accidental death & dismemberment
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 change in status and can produce supporting documentation to Human Resources. Below are examples of qualifying events:
If you fail to notify Human Resources within 30 days of a family status change, you will be required to wait until the next annual enrollment period to make benefit changes unless you have another family status change.
Change in marital status
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Birth or adoption of an eligible child
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• Death of your spouse or covered child
WHEN COVERAGE ENDS
• Change in your spouse’s work status that affects his or her benefits
• Employee or spouse has a change in work status that affects your benefits, FT-PT, PT-FT • Commencement or termination of your spouse’s employment (for termination if a period of unemployment for more than 30 days)
Coverage will stop on the last day of the month in which employment with the company ends.
• Change in your child’s eligibility for benefits
• Receiving Qualified Medical Child Support Order (QMCSO)
• You are placed on an unpaid FMLA, Worker’s Compensation or Leave of Absence.
KEY BENEFIT TERMS
COBRA – A Federal law that allows workers and dependents who lose their medical, dental, or vision coverage to continue any of these coverages for a specified length of time by electing and paying for continuation benefits. Copayment – A flat fee that you pay for medical services, regardless of the actual amount charged by your doctor or another provider. This generally applies to physicians’ office visits and prescription drugs. Deductible – The amount you pay toward medical and dental expenses each year before the plan begins paying benefits. Out of Pocket Maximum – The maximum amount you will pay in deductibles and copayments during the year.
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