Employee Benefits Guide

Transcription

1 Your Employee Benefits Guide Things You Need to Know... Medical Insurance Dental & Vision Insurance Benefits effective September 1, 2017 Flexible Spending Account Insurance Coverage for the Unexpected Teladoc What s NEW? An HSA, that s what s NEW! Savings & Investments Important Contacts

2 Things YOU Need to Know... This guide is designed to highlight current benefits. The details of these plans are contained in the official plan and policy documents which are located in our benefits system, THE BENEFITS HUB ( This guide is meant to only cover the major points of each plan and policy. If there is ever a question or if there s a conflict between the information in this guide and the formal language in the summary plan descriptions, the formal wording in the plan or policy documents will govern. When does Open Enrollment begin and end? ONLINE enrollment will be July 1 August 11. However, for your convenience we will have enrollers here ALL summer if you would like to do it face to face at the CAO. I don t want to make any changes, do I have to do anything? YES! This year, everyone is required to make benefit elections again, even if you do not want to make any changes. If you do NOT login and make your elections, you will NOT have benefits for the 2017 / 2018 school year. Where do I go to enroll online? Visit and click login at the top right corner of the screen OR you can go to the Temple ISD website and under Online Resources you will find the link there as well. What if I don t know my username or password?? Your username is the first six (6) characters of your last name, followed by the first letter of your first name, followed by the last four (4) digits of your social security number. Your password is your last name, excluding punctuation, followed by the last four (4) digits of your social security number. Example: John Doe USERNAME: doej9999 PASSWORD: doe9999 New or Newly Eligible Employees If you are a new or newly eligible employee, you have 31 days from your date of employment (start date) to enroll in benefits. Making Changes During the Year Generally, you can only change your benefit elections during the annual benefits Open Enrollment period. An exception is made for any Qualified Life Event (QLE), such as marriage, divorce, birth or adoption. You must notify the Benefits Department within 31 days of any QLE to make changes. Other wise, you ll have to wait until the next enrollment period. Any changes you make to your benefit choices must be directly related to the Life Event. Proof of the change may be required (example: a marriage license or birth certificate). What if I don t want health insurance through Temple ISD? If you do NOT elect health insurance through Temple ISD, you will be eligible for a benefit credit! Temple ISD will give you $150.00/month to contribute towards one of the following: FSA flex card or dependent care account 457 Retirement Savings Account You cannot elect a Flexible Spending Account (FSA) AND a Health Savings Account (HSA). You must elect one or the other. If you already have a previous HSA, we can help you roll it over! 2

3 Your Benefits. Your Choices. Medical Insurance One way Temple ISD helps look after the health and well-being of you and your family is with comprehensive Medical Insurance through TRS ActiveCare. Choose from one of the following plans.

4 Your Benefits. Your Choices. Dental Insurance Everyone deserves a healthy smile. So, keep your family smiling with affordable Dental coverage that makes it easy to visit your dentist for regular cleanings and preventive care, as well as for major treatments. Vision Insurance Better vision for you and your dependents is just a blink away! The Vision coverage available to you helps pay for periodic eye exams, eyeglasses, and contact lenses. For full plan summaries, please visit 4

5 Your Benefits. Your Choices. Flexible Spending Account? What is that? FlexSystem FSA is offered through Temple ISD and is administered by TASC. When you choose to enroll in a FlexSystem FSA Healthcare and/or Dependent Care, you choose the dollar amount you want to contribute to each account based on your estimated expenses for the upcoming Plan Year. Your contributions will be deducted in equal amounts from each paycheck, pre-tax, throughout the Plan Year. The more you contribute to these accounts, the more you save by paying less taxes! l Healthcare FSA annual contribution amount is available immediately at the start of the Plan Year; Dependent Care FSA funds are available up to the current account balance only. Flexible Spending Accounts (FSAs) 2017 / 2018 Health FSA Max Election $2,600 Dependent Care FSA Max Election $5,000 Insurance Coverage for the Unexpected Life/AD&D, Disability, & Cancer Insurance aren't something you think about everyday. But, they should be an important part of everybody's financial planning no matter what your age. Your benefits program offers the following coverages to help protect you and your family when it's needed most: Group Life and Accident (district paid) You receive $10,000 in coverage at no cost. Supplemental Life and AD&D Term Life Employee $10,000 increments up to a maximum of 5 times basic annual earnings (overall max $500,000) Spouse $5,000 increments; subject to a max of 50% of your Life Insurance Benefit (rounded to the next higher $5,000). Coverage is subject to a minimum of $5,000 (overall max $250,000) Long Term Disability Eligible employees may elect an amount in $100 increments from $300 to $8,000, not to exceed 66 2/3 percent of your monthly earnings. Colonial Life Cancer Insurance Affordable coverage that can provide benefits to help pay for the cost of cancer screening and treatment as well as other indirect costs/benefits. GAP Insurance Covers portions of the expenses employees and their families incur due to treatment of injuries and illnesses under their major medical plan as a result of the application of deductibles and coinsurance. Texas Life Insurance Whole Life Life Insurance coverage that remains during the entire life of the insured individual (as opposed to Term Life that has an end date). For full plan summaries, please visit 5

6 More Benefits. More Choices. Temple ISD has YOU and your loved ones covered! TISD offers, at NO cost to you, a Teladoc Service. Don t want to visit the doctor and pay a co-payment or take time out of your busy day? Then DON T! Call Teladoc instead! Anyone in your residence can use this benefit, even if you don t have health insurance through TISD!! 6

7 More Benefits. More Choices. Temple ISD now offers a Health Savings Account Option for those that elect the Aetna HDHP plan. Visit to see how you can benefit from tax savings! What is an HSA? An HSA, or health savings account, is a unique tax-advantaged account that you can use to pay for current or future healthcare expenses. With an HSA, you ll have: A tax-advantaged savings account that you use to pay for eligible medical expenses as well as deductibles, co-insurance, prescriptions, vision and dental care Unused funds that will roll over year to year. There s no use or lose it penalty Potential to build more savings through investing. You can choose from a variety of HSA self-directed investment options with no minimum balance required Additional retirement savings. After age 65, funds can be withdrawn for any purpose without penalty Contribution Limits The IRS maximum allowable amounts: $3, for individual coverage and $6,750 for family coverage IMPORTANT! If you elect to participate in a Health Savings Account (HSA) you cannot participate in contributing to a Flexible Spending Account (FSA), you must elect one or the other. 7

8 More Benefits. More Choices. Save with a 403(b) or a 457 Retirement Plan! A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers. Individual accounts in a 403(b) plan can be any of the following types: 403(B) annuity or a 403(b) Roth. The 457 plan is a type of nonqualified, tax advantaged deferred-compensation retirement plan that is available for governmental and certain non-governmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre-tax basis. Contact Amy Hayes or Linda Hernandez in the Benefits Department if you d like more information! 8

9 Important Contacts Your Benefits Team Amy Hayes, PHR, SHRM-CP Director of Personnel Benefits Temple Independent School District Office: Fax: Linda Hernandez Benefits Specialist Temple Independent School District Office: Fax: Financial Benefit Services Benefit Specialist - Janie Lewis (habla español) Client Serive Representative - Kym Banner Client Service Support - Laura Vazquez Account Executive - Lorraine Tune (habla español) Employees may also call Financial Benefit Services for benefit support. Other Important Contacts... 9