Eanes ISD Cafe Plan and Benefits

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Presentation describing the Cafe Plan and Supplemental Benefits for Eanes ISD 2011-2012 school year.

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Eanes ISD Cafe Plan and Benefits

  1. 1. EANES ISD- Cafeteria Plan and Supplemental Benefits Susan Winkler Benefits Consultant Administrators: Bay Bridge Administration National Plan Administrators
  2. 2. Cafeteria Plan <ul><li>“ Menu” of Benefits </li></ul><ul><li>Customized Benefit Package </li></ul><ul><li>All Benefits operate independently. </li></ul><ul><li>Benefits Paid with Pre-Tax Dollars </li></ul><ul><li>Reduces your Taxes </li></ul>
  3. 3. Reduces Taxes <ul><li>Example: $25,000 </li></ul><ul><li>-$1500 </li></ul><ul><li>$23,500 </li></ul><ul><li>W </li></ul><ul><li>Shows </li></ul><ul><li>Not </li></ul><ul><li>Increases </li></ul><ul><li>Contract Salary </li></ul><ul><li>Cost of Benefits/Yr </li></ul><ul><li>Net Taxable Salary </li></ul><ul><li>-2 </li></ul><ul><li>$23,500 </li></ul><ul><li>$25,000 </li></ul><ul><li>Take Home Pay </li></ul>
  4. 4. Rules <ul><li>Must be given Information and Opportunity </li></ul><ul><li>Must have a Signed Section 125 Benefit Election Form on file </li></ul><ul><li>Only make changes during Plan Year if you have a Qualified Family Status change. </li></ul><ul><li>30 day Grace Period </li></ul>
  5. 5. Other Details <ul><li>Plan Year- </li></ul><ul><li>September 1 st thru August 31 st </li></ul>
  6. 6. Qualified Benefits <ul><li>Insurance Plans </li></ul><ul><ul><li>Medical </li></ul></ul><ul><ul><li>Dental </li></ul></ul><ul><ul><li>Vision </li></ul></ul><ul><ul><li>Cancer Protection </li></ul></ul><ul><ul><li>Heart/Stroke Plan </li></ul></ul><ul><ul><li>Accident Plan </li></ul></ul><ul><li>Reimbursement Accounts </li></ul>
  7. 7. Non Qualified Benefits <ul><li>Disability Income Protection </li></ul><ul><li>Group Life Insurance </li></ul><ul><li>Individual Life Insurance- </li></ul><ul><li>Leaders Life </li></ul>
  8. 8. REIMBURSEMENT ACCOUNTS <ul><li>Medical Expense Reimbursement Account (MRA) </li></ul><ul><li>Dependent Care Reimbursement Account (DCRA) </li></ul>
  9. 9. 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!!
  10. 10. Medical Expense Reimbursement <ul><li>Out of Pocket Medical Expenses </li></ul><ul><li>for You and Dependents </li></ul><ul><li>(i.e. Prescription Medications, Co-pays, Deductibles, Dental work, Eye Care) </li></ul><ul><li>USE IT OR LOSE IT </li></ul><ul><li>-During Plan Year- </li></ul><ul><li>Sept. 1 st – Aug. 31 st </li></ul><ul><li>No Carry Over </li></ul><ul><li>Read Rules! </li></ul>
  11. 11. Dependent Care Reimbursement <ul><li>Child Care Costs </li></ul><ul><li>EANES ISD in-house childcare- No claims </li></ul><ul><li>USE IT OR LOSE IT </li></ul><ul><li>No Carry Over </li></ul><ul><li>Read Rules! </li></ul><ul><li>Worksheet- Call Tax Preparer </li></ul>
  12. 12. Reimbursement Accounts <ul><li>Great Way to Save Money on Taxes </li></ul><ul><li>Be Careful – Use it or lose it </li></ul><ul><li>Read Rules - Ask questions </li></ul>
  13. 13. Supplemental Insurance Benefits <ul><li>Dental </li></ul><ul><li>Vision </li></ul><ul><li>Group Life </li></ul><ul><li>Individual Life </li></ul><ul><li>Cancer Plan </li></ul><ul><li>Heart/Stroke & Accident Plans </li></ul><ul><li>Disability Income </li></ul>
  14. 14. DENTAL Plans- CompBenefits <ul><li>DHMO </li></ul><ul><li>High PPO </li></ul><ul><li>Low PPO </li></ul><ul><li>www.compbenefits.com </li></ul>
  15. 15. Dental DHMO www.compbenefits.com <ul><li>Pre-Select a Dentist </li></ul><ul><li>$5 Office Visit charge </li></ul><ul><li>Many Preventative at No Charge </li></ul><ul><li>25% - 60% Savings </li></ul><ul><li>No claims forms, deductibles, or maximums </li></ul><ul><li>Ortho covered </li></ul>
  16. 16. Low PPO www.compbenefits.com <ul><li>Choose Any Dentist, But…. </li></ul><ul><li>Network Providers offer Best pricing </li></ul><ul><li>No deductible on Preventative </li></ul><ul><li>1 st Year benefits very limited </li></ul><ul><li>12 Mo. Waiting Period for Type 3 </li></ul><ul><li>Pays 100%, 80%, or 50%; of PPO fees </li></ul><ul><li>$1000 Max benefit per Year </li></ul>
  17. 17. High PPO <ul><li>Choose Any Dentist </li></ul><ul><li>Network Providers offer best pricing </li></ul><ul><li>No deductible on Preventative </li></ul><ul><li>Endo, Perio, and Oral Surgery- Type 2 </li></ul><ul><li>12 Mo. Waiting Period- Major & Ortho </li></ul><ul><li>Pays 100%, 80%, or 50% UCR </li></ul><ul><li>$1500 Max benefit per Year </li></ul><ul><li>$500 Max per Year for Ortho. </li></ul>
  18. 18. VisionCare - CompBenefits www.compbenefits.com <ul><li>Choose an Approved Provider </li></ul><ul><li>$10 Co-pay for Exam </li></ul><ul><li>$15 Co-pay for Lenses & Frame </li></ul><ul><li>$130 Allowance for Contact Lenses </li></ul><ul><li>Wholesale Cost for Lenses & Frame Upgrade Options </li></ul><ul><li>(i.e. Tints, UV Coating, Progressive) </li></ul><ul><li>Out of Network benefits available </li></ul>
  19. 19. Group Life - BCS An inexpensive way to add life insurance coverage during your working years. <ul><li>Optional Life -Up to 4 times salary to $560,000; Up to $50,000 for spouse </li></ul><ul><li>Children covered up to $10,000 </li></ul>
  20. 20. Individual Life Plan <ul><li>Leaders Life </li></ul><ul><li>New - Policies up to $150,000, simplified issue. </li></ul><ul><li>Employee, spouse, children, and grandchildren </li></ul><ul><li>30% benefit for Critical Illness </li></ul>
  21. 21. Cancer Protection - Humana <ul><li>Pays in Addition to Other Coverage </li></ul><ul><li>In and Out of Hospital Benefits </li></ul><ul><li>Wellness Benefits </li></ul><ul><li>Portable & Renewable for Life </li></ul><ul><li>Covers 32 Other Diseases </li></ul><ul><li>Serious Medical Conditions are Very Costly to Treat </li></ul>
  22. 22. Accident Policy & Heart/ Stroke Plan - Humana <ul><li>Serious Medical Conditions can be Very Costly to Treat </li></ul><ul><li>These plans supplement your other coverage </li></ul>
  23. 23. Disability Coverage - Anthem <ul><li>Income/ Paycheck Protection </li></ul><ul><li>Pays you a Benefit should you be unable to work because of an Injury, Illness, or Pregnancy </li></ul>
  24. 24. LONG TERM Disability <ul><li>Pays up to 3 years for illnesses, and up to age 65 for injuries </li></ul><ul><li>Extended benefits available for illnesses to age 65 </li></ul>
  25. 25. Disability Specs. <ul><li>Guarantee Issue up to 2/3 Salary </li></ul><ul><ul><li>Up to $7500 </li></ul></ul><ul><ul><li>Pre-Existing Conditions may limit your benefits for the first year of coverage to a one month benefit. </li></ul></ul><ul><li>Six waiting (elimination) periods to choose from- </li></ul><ul><li>0/3*, 14*, 30*, 60, 90 & 180 days </li></ul><ul><li>* Waived if hospital confined . </li></ul>
  26. 26. Additional Disability Benefits <ul><li>Daily Hospital Benefit: Pays $100 per day from 1 st day of confinement </li></ul><ul><li>AD&D Benefit: $30,000 </li></ul><ul><li>Doctor Visit Benefit: </li></ul><ul><li>Up to $100 per visit, 4 per year </li></ul>
  27. 27. Additional Information Online <ul><li>Detailed information, Claim forms, Contact information </li></ul><ul><li>Benefits Portal </li></ul><ul><ul><li>www.benebridge.com </li></ul></ul><ul><ul><ul><li>Click on EANES ISD </li></ul></ul></ul><ul><ul><ul><li>Choose List Benefits - for benefit details </li></ul></ul></ul><ul><li>Norma Hutchinson [email_address] </li></ul><ul><li>Susan Winkler [email_address] </li></ul>

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