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Benefit Meeting - 2011
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Employee Benefit ReviewEmployee Benefit Review
Review your current benefits program
Discuss your benefits program for 2011
Assist you in the selection of all benefits
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Benefits Program - 2011Benefits Program - 2011* Medical Insurance / 2 Options
* Long Term Disability
* Voluntary Benefits
* Vision Insurance
* Dental Insurance
* Flexible Spending Account
* Life Insurance
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Blue Cross / Blue ShieldBlue Cross / Blue Shield
Lifetime Max Unlimited
Employee Only Ded
Employee & Family Ded
Employee OOP MaxEE & Family OOP Max
$1,000
$2,500
$2,000
$5,000
80% Co-Insurance
In-Network – (P)In-Network – (P)
(Option #1)
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Blue Cross / Blue ShieldBlue Cross / Blue Shield
Physician Co-Pay
Lab/X-rays
Hospital Admission
Outpatient Service
Prescription Medication
Emergency Room
In-Network - ( P )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
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HSA Overview• A Health Savings Account is very
similar to an Individual Retirement Account, except distributions must be made for qualified medical expenses.
• Unused funds continue to grow tax deferred year to year.
• Qualified distributions are tax-free.• Must be used in conjunction with
“High Deductible Health Plan” (HDHP).– Insurance that does not cover first
dollar medical expenses (except for prevention).
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Blue Cross / Blue ShieldBlue Cross / Blue Shield
Lifetime Max Unlimited
Employee Only Ded
Employee & Family Ded
Employee OOP MaxEE & Family OOP Max
$2,500
$2,500
$5,000
$5,000
100% Co-Insurance
In-Network – (P) In-Network – (P)
(Option # 2 – HDHP / HSA Compatible)
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Blue Cross / Blue ShieldBlue Cross / Blue Shield
Physician Visit
Lab/X-rays
Hospital Admission
Outpatient Service
Prescription Medication
Emergency Room
In-Network – (P)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)
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www.bcbst.com
Find A Doctor or Hospital In The Network Find Information About Prescription Drugs Check Status Of Claims
Plan Design Information
1.800.565.9140, 8AM-5PM
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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.
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Life & AD&D Insurance(Guardian)
* See Employer for Exact Benefit Amounts
100% Employer Paid
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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
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Dental Insurance - Dental Insurance - VoluntaryVoluntary (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
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Dental Insurance - Dental Insurance - VoluntaryVoluntary (Delta Dental)
$ 14.04
$ 58.45
Employee Cost
$ 28.66Employee + One Dependent
Employee + Family
Employee Cost - Per Pay Period
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Vision Benefits - Vision Benefits - VoluntaryVoluntary ( Guardian – VSP Network )( 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)
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Vision Insurance - Vision Insurance - VoluntaryVoluntary ( Guardian – VSP Network )
$ 3.86
$ 7.95
Employee Cost
$ 7.63Employee / Spouse
Employee / Child(ren)
Employee & Family $ 11.33
Employee Cost – Per Pay Period
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Health care Flexible Spending Accounts help manage the costs of health care...
Dental products and procedures -- including orthodontia.
Vision products.
Many prescription drugs.
General physicals and well-baby care.
Over-the-Counter drugs
Flexible SpendingFlexible Spending
You may place up to 3,500 per year in the flex plan.
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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 filesingle
You may place $5000 in to the account if you aremarried & file jointly
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$1,600.00
Total annual deduction for FSA
$ 370.00
Amount spent by end of plan year
$1,230.00Any funds deducted but not used during
the plan year are forfeited.
Proper Planning
Is Key!
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Another added Company Benefit includes payroll deduction for Voluntary Benefits Employees will have the opportunity to choose supplemental coverage with Colonial during individual benefit sessions.
Colonial Life our carrier for Voluntary Products.
Voluntary Benefits
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Short Term Disability
Life Insurance
COLONIAL LIFECOLONIAL LIFE
Accident Coverage Cancer InsuranceCritical Illness
Medical Bridge – (2 Options)
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Would It Be A Problem If I Didn’t Get A Paycheck For A While ?
How Will I Pay My Bills?!How Will I Pay My Bills?!
Short Term Disability
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Your benefit amount is 66 2/3% of gross income
Short Term Disability
24 Month benefit period
Benefits start after the 1st day for accidents and 8th day for sickness. Off-job Accident, Off-Job Sickness (60%of disabling injuries occur off the job)
Maternity covered after 9 months 12 Month Pre-Existing Condition Applies Coverage is Portable
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Cash Payment For Accidents That Happen On Or Off The Job
Benefits Paid Directly To You
Spouse And Children Coverage Available Worldwide coverage, 24 hrs/day Coverage Is Portable And Guaranteed Renewable.
Accident Plan
Spouse Disability Coverage Available(Maternity Can Be Covered)
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Designed To Help See You
Through The Different Stages Of
Care
Initial Care Ambulance
$200 Emergency Treatment
$125Accidental Injuries Broken Bones: Leg $825
Rib $275 Lacerations: $ 50Hospital Admission$1,250• 250 per day thereafter•ICU $2,500 then $500 per day thereafter
Follow-Up Follow-Up Treatment $ 50 Appliances $100 Example of Total Benefit: $2,875
Accident CareAccident Care
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Cancer Program
Cash benefit for: Wellness check ups, hospital confinement, full time nursing service, radiation chemo, protective care drugs, surgical procedures, travel & lots more
Covers out-of-pocket expenses related to a cancer illness
Spouse & Children Coverage Available
Portable at Same Cost
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• Benefits paid at 100% of face amount Lump Sum Cash Benefit for:
– Heart attack (myocardial infarction)– Stroke– End stage (renal) failure– Cancer (Rider Available)– Major organ failure– Permanent paralysis (due to covered accident)– Coma– Blindness– Occupational HIV/hepatitis B, C or D
• Benefits paid at 25% of face amount – Coronary artery bypass graft surgery – Carcinoma in situ
Critical Illness
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Critical Illness Covers out-of-pocket
expenses related to a critical illness
Benefits of $5,000-$75,000
Benefit is Tax Free
Family Coverage Available
Portable
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Benefits Paid If You Are Admitted Into The Hospital: $500 or $1,000 - You Choose The Benefit Amount
All Benefits Paid Directly to You
Coverage Is Guaranteed Renewable For Life & Portable At The Same Cost
12 Month Pre-Existing
Condition Applies
Family Coverage Available
Medical Bridge – 3000 - HSA
Wellness Benefit - $50 Annual Wellness Benefit / Two Per Family
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Benefits Paid If You Are Admitted Into The Hospital: $500 or $1,000 - You Choose The Benefit Amount
Outpatient Surgery – Pays from $500 - $1,000 / Yearly max. is $1,500
All Benefits Paid Directly to You
Coverage Is Guaranteed Renewable For Life & Portable At The Same Cost
12 Month Pre-Existing
Condition Applies
Family Coverage Available
Medical Bridge - 3000
Wellness Benefit - $50 Annual Wellness Benefit / Two Per Family
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Children’s Education
Final Expenses
Why Life InsuranceWhy Life Insurance ? ?
Debts Such as Loans, Mortgages, Bills, Etc.
Help Family Maintain a Normal Lifestyle
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Life Insurance
Term Life Pure Insurance Choice of: --- 10 Year Term --- 20 Year Term --- 30 Year Term Spouse & Child Coverage Available
Universal Life Builds Cash Value Lifetime Level Premiums Separate Spouse & Child
Policies Available Long Term Care Rider
Available
Both Policies Include:Accelerated Death Benefit
Portable At Same CostRenewable to Age 95
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Governed by the I.R.S.Governed by the I.R.S. Tax Savings on Insurance Tax Savings on Insurance Premiums Premiums Such as: Major Medical, Dental, Such as: Major Medical, Dental, Accident Accident No Employee cost for No Employee cost for participationparticipation Certain regulations apply Certain regulations apply --Changes can only be made at Re-Enrollment time each year unless there is a family status change such as:
Legal marital status, Number of dependents, Dependent
eligibility and Employment status.
Note: To comply with IRS requirements, a change in election must be consistent with a status change.
Section 125 Plan
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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 $ 285.14Savings from Tax Reduction 11.32Total Annual Savings 588.64
Pre Tax Illustration
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How to make the most of YOUR individual enrollment meeting
Paperwork (Election Forms)
Questions & Answers
Company Personal SpouseCompany Personal SpouseInventory Existing Coverage
Individual Meetings
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Benefit StatementThis will show each
employee the “Hidden Paycheck,” their annual benefit costs and yours.
* No Additional Cost
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Meetings:Thursday, Dec. 2nd @ 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