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  1. 1. Benefit Meeting - 2011
  2. 2. Employee Benefit Review Review your current benefits program Discuss your benefits program for 2011 Assist you in the selection of all benefits
  3. 3. Benefits Program - 2011 * Medical Insurance / 2 Options * Long Term Disability * Voluntary Benefits * Vision Insurance * Dental Insurance * Flexible Spending Account * Life Insurance
  4. 4. Blue Cross / Blue Shield Lifetime Max Unlimited Employee Only Ded Employee & Family Ded Employee OOP Max EE & Family OOP Max $1,000 $2,500 $2,000 $5,000 80% Co-Insurance In-Network – (P) (Option #1)
  5. 5. Blue Cross / Blue Shield Physician Co-Pay Lab/X-rays Hospital Admission Outpatient Service Prescription Medication Emergency Room In-Network - ( P ) Out Of Network $25 Co-Pay Ded & Co-Insurance Ded & Co-Insurance $10 / $35 / $50 Ded & Co-Insurance 60% After Ded Wellness 100% Covered $250 Co-Pay (Option # 1) Specialist Co-Pay $50 Co-Pay
  6. 6. HSA Overview <ul><li>A Health Savings Account is very similar to an Individual Retirement Account, except distributions must be made for qualified medical expenses. </li></ul><ul><li>Unused funds continue to grow tax deferred year to year. </li></ul><ul><li>Qualified distributions are tax-free. </li></ul><ul><li>Must be used in conjunction with “High Deductible Health Plan” (HDHP). </li></ul><ul><ul><li>Insurance that does not cover first dollar medical expenses (except for prevention). </li></ul></ul>
  7. 7. Blue Cross / Blue Shield Lifetime Max Unlimited Employee Only Ded Employee & Family Ded Employee OOP Max EE & Family OOP Max $2,500 $2,500 $5,000 $5,000 100% Co-Insurance In-Network – (P) (Option # 2 – HDHP / HSA Compatible)
  8. 8. Blue Cross / Blue Shield Physician Visit Lab/X-rays Hospital Admission Outpatient Service Prescription Medication Emergency Room In-Network – (P) Out Of Network Ded & Co-Insurance Ded & Co-Insurance Ded & Coinsurance Ded & Co-Insurance Ded & Co-Insurance 60% After Ded Wellness 100% Covered Ded & Co-Insurance (Option # 2 – HDHP / HSA Compatible)
  9. 9. www.bcbst.com <ul><li>Find A Doctor or Hospital In The Network </li></ul><ul><li>Find Information About Prescription Drugs </li></ul><ul><li>Check Status Of Claims </li></ul><ul><li>Plan Design Information </li></ul>1.800.565.9140 , 8AM-5PM
  10. 13. Medical Insurance (BC/BS) * See Employer or Benefit Counselor for rates on each plan. Cost savings recognized by ClearView Baptist Church on Option 2 – HSA plan can be passed on to the employee in the form of deposits into an eligible employee’s HSA.
  11. 14. Life & AD&D Insurance (Guardian) * See Employer for Exact Benefit Amounts 100% Employer Paid
  12. 15. Long Term Disability (MetLife) *180 Day Elimination Period * 60% of Earnings to a max. monthly benefit of $6,000 Special Note: This is a tax free benefit . * Benefit Duration to Age 65 or Normal Retirement Age 100% Employer Paid
  13. 16. Dental Insurance - Voluntary (Delta Dental) Deductible – 3 Per Family $50 Per Person Preventive Services 100% / 100% Basic Services 90% / 80% Major Services 60% / 50% Benefit Year Maximum $1,000 Orthodontia Coverage 50% up to $1,000 lifetime maximum (Dependent Children to age 24) In Network / Out of Network
  14. 17. Dental Insurance - Voluntary (Delta Dental) $ 14.04 $ 58.45 Employee Cost $ 28.66 Employee + One Dependent Employee + Family Employee Cost - Per Pay Period
  15. 18. Vision Benefits - Voluntary ( Guardian – VSP Network ) 1 Vision Exam – Calendar Year $10 Co-Pay / $46 Max Benefit 1 Set of Lenses – Calendar Year $25 Co-Pay / See Schedule (Including bifocal, trifocal ) Contact Lenses $25 Co-Pay / See Schedule (In lieu of eyeglasses – Every 12 months) 1 Set of Frames $25 Co-Pay / See Schedule (Every 24 months)
  16. 19. Vision Insurance - Voluntary ( Guardian – VSP Network ) $ 3.86 $ 7.95 Employee Cost $ 7.63 Employee / Spouse Employee / Child(ren) Employee & Family $ 11.33 Employee Cost – Per Pay Period
  17. 20. Health care Flexible Spending Accounts help manage the costs of health care... D ental products and procedures -- including orthodontia. V ision products. M any prescription drugs. G eneral physicals and well-baby care. Over-the-Counter drugs Flexible Spending You may place up to 3,500 per year in the flex plan.
  18. 21. Dependent care FSAs help manage the costs of caring for dependents... Children under 13 / Parent or Spouse who is incapable of caring for themselves You may place $2500 in to the account if you file single You may place $5000 in to the account if you are married & file jointly
  19. 22. Any funds deducted but not used during the plan year are forfeited. Proper Planning Is Key! $1,600.00 Total annual deduction for FSA $ 370.00 Amount spent by end of plan year $1,230.00
  20. 23. <ul><li>Another added Company Benefit includes payroll deduction for Voluntary Benefits </li></ul><ul><li>Employees will have the opportunity to choose supplemental coverage with Colonial during individual benefit sessions. </li></ul><ul><li>Colonial Life our carrier for Voluntary Products. </li></ul>Voluntary Benefits
  21. 24. Short Term Disability Life Insurance COLONIAL LIFE Accident Coverage Cancer Insurance Critical Illness Medical Bridge – (2 Options)
  22. 25. Would It Be A Problem If I Didn’t Get A Paycheck For A While ? How Will I Pay My Bills?! Short Term Disability
  23. 26. <ul><li>Your benefit amount is 66 2/3% of gross income </li></ul><ul><li>24 Month benefit period </li></ul><ul><li>Benefits start after the 1st day </li></ul><ul><li>for accidents and 8th day for sickness. </li></ul><ul><li>Off-job Accident, Off-Job Sickness (60%of disabling injuries occur off the job) </li></ul><ul><li>Maternity covered after 9 months </li></ul><ul><li>12 Month Pre-Existing Condition Applies </li></ul><ul><li>Coverage is Portable </li></ul>Short Term Disability
  24. 27. <ul><li>Cash Payment For Accidents That Happen On Or Off The Job </li></ul><ul><li>Benefits Paid Directly To You </li></ul><ul><li>Spouse And Children Coverage Available </li></ul><ul><li>Worldwide coverage, 24 hrs/day </li></ul><ul><li>Coverage Is Portable And Guaranteed Renewable. </li></ul>Accident Plan <ul><li>Spouse Disability Coverage Available </li></ul><ul><li>(Maternity Can Be Covered) </li></ul>
  25. 28. Designed To Help See You Through The Different Stages Of Care <ul><li>Initial Care Ambulance $200 Emergency Treatment $125 </li></ul><ul><li>Accidental Injuries Broken Bones: Leg $825 Rib $275 Lacerations: $ 50 </li></ul><ul><li>Hospital Admission $1,250 </li></ul><ul><li>250 per day thereafter </li></ul><ul><li>ICU $2,500 then $500 per day thereafter </li></ul><ul><li>Follow-Up Follow-Up Treatment $ 50 Appliances $100 </li></ul><ul><li>Example of Total Benefit: $2,875 </li></ul>Accident Care
  26. 29. Cancer Program <ul><li>Cash benefit for: Wellness check ups, hospital confinement, full time nursing service, radiation chemo, protective care drugs, surgical procedures, travel & lots more </li></ul><ul><li>Covers out-of-pocket expenses related to a cancer illness </li></ul><ul><li>Spouse & Children Coverage Available </li></ul><ul><li>Portable at Same Cost </li></ul>
  27. 30. <ul><li>Benefits paid at 100% of face amount </li></ul><ul><li>Lump Sum Cash Benefit for: </li></ul><ul><ul><li>Heart attack (myocardial infarction) </li></ul></ul><ul><ul><li>Stroke </li></ul></ul><ul><ul><li>End stage (renal) failure </li></ul></ul><ul><ul><li>Cancer (Rider Available) </li></ul></ul><ul><ul><li>Major organ failure </li></ul></ul><ul><ul><li>Permanent paralysis (due to covered accident) </li></ul></ul><ul><ul><li>Coma </li></ul></ul><ul><ul><li>Blindness </li></ul></ul><ul><ul><li>Occupational HIV/hepatitis B, C or D </li></ul></ul><ul><li>Benefits paid at 25% of face amount </li></ul><ul><ul><li>Coronary artery bypass graft surgery </li></ul></ul><ul><ul><li>Carcinoma in situ </li></ul></ul>Critical Illness
  28. 31. Critical Illness <ul><li>Covers out-of-pocket expenses related to a critical illness </li></ul><ul><li>Benefits of $5,000-$75,000 </li></ul><ul><li>Benefit is Tax Free </li></ul><ul><li>Family Coverage Available </li></ul><ul><li>Portable </li></ul>
  29. 32. <ul><li>Benefits Paid If You Are Admitted Into The Hospital: $500 or $1,000 - You Choose The Benefit Amount </li></ul><ul><li>All Benefits Paid Directly to You </li></ul><ul><li>Coverage Is Guaranteed Renewable For Life & Portable At The Same Cost </li></ul><ul><li>12 Month Pre-Existing Condition Applies </li></ul><ul><li>Family Coverage Available </li></ul>Medical Bridge – 3000 - HSA <ul><li>Wellness Benefit - $50 Annual Wellness Benefit / Two Per Family </li></ul>
  30. 33. <ul><li>Benefits Paid If You Are Admitted Into The Hospital: $500 or $1,000 - You Choose The Benefit Amount </li></ul><ul><li>Outpatient Surgery – Pays from $500 - $1,000 / Yearly max. is $1,500 </li></ul><ul><li>All Benefits Paid Directly to You </li></ul><ul><li>Coverage Is Guaranteed Renewable For Life & Portable At The Same Cost </li></ul><ul><li>12 Month Pre-Existing Condition Applies </li></ul><ul><li>Family Coverage Available </li></ul>Medical Bridge - 3000 <ul><li>Wellness Benefit - $50 Annual Wellness Benefit / Two Per Family </li></ul>
  31. 34. <ul><li>Children’s Education </li></ul><ul><li>Final Expenses </li></ul>Why Life Insurance ? <ul><li>Debts Such as Loans, Mortgages, Bills, Etc . </li></ul><ul><li>Help Family Maintain a Normal Lifestyle </li></ul>
  32. 35. Life Insurance <ul><li>Term Life </li></ul><ul><li>Pure Insurance </li></ul><ul><li>Choice of: --- 10 Year Term --- 20 Year Term --- 30 Year Term </li></ul><ul><li>Spouse & Child Coverage Available </li></ul><ul><li>Universal Life </li></ul><ul><li>Builds Cash Value </li></ul><ul><li>Lifetime Level Premiums </li></ul><ul><li>Separate Spouse & Child Policies Available </li></ul><ul><li>Long Term Care Rider Available </li></ul>Both Policies Include: Accelerated Death Benefit Portable At Same Cost Renewable to Age 95
  33. 36. <ul><li>Governed by the I.R.S. </li></ul><ul><li>Tax Savings on Insurance Premiums Such as: Major Medical, Dental, Accident </li></ul><ul><li>No Employee cost for participation </li></ul><ul><li>Certain regulations apply </li></ul><ul><li>- Changes can only be made at </li></ul><ul><li>Re-Enrollment time each year unless there is a family status change such as: </li></ul><ul><li>Legal marital status, Number of dependents, Dependent eligibility </li></ul><ul><li>and Employment status. </li></ul><ul><li>Note: To comply with IRS requirements, a change in election must be consistent with a status change. </li></ul>Section 125 Plan
  34. 37. Pre Tax Illustration Without With Sec 125 Sec 125 Gross Pay Per Pay Period 400.00 400.00 Insurance (pretax) 0.00 50.00 Taxable Amount 400.00 350.00 Federal Tax 45.58 38.08 FICA 30.60 26.78 Insurance 50.00 0.00 Net Pay $ 273.82 $ 285.14 Savings from Tax Reduction 11.32 Total Annual Savings 588.64
  35. 38. How to make the most of YOUR individual enrollment meeting Paperwork (Election Forms) Questions & Answers Individual Meetings Company Personal Spouse Inventory Existing Coverage
  36. 39. Benefit Statement This will show each employee the “Hidden Paycheck,” their annual benefit costs and yours. * No Additional Cost
  37. 40. Meetings: Thursday, Dec. 2 nd @ 8:00 Every One Must Sit Down With An Enrollment Counselor Due To Section 125 IRS Regulations * Update your address and deduction information * Receive your Benefit Statement

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