January 2016 Benefits Overview ELIGIBILITY The district pays the premium for the full-time employee s medical, dental and life insurance. Employees who work 35 hours or more are considered full-time. Part-time employees working 25-34 hours week are eligible to purchase medical, dental, and life insurance. The district pays a prorated portion of the premium for the part-time employee, based on the number of hours worked week. Coverage begins: First day of the month following 60 days for non-exempt (hourly) employees First day coverage for exempt (salaried) employees DENTAL The district s dental plan is administered through Ameritas, and allows you the freedom to seek treatment from any dentist. Participants added the initial enrollment iod will have limited benefits for the first 12 months of coverage. Dependent children may be covered on the plan up to age 26. SERVICE PLAN PAYS DEDUCTIBLE Preventive and diagnostic Office visits, exams, cleanings, x-rays Basic services Fillings, extractions, root canals Major services Crowns, bridges, dentures 100% None 75% 50% $100/individual $300/family $100/individual $300/family Orthodontic coverage None N/A Annual benefit maximum $1,500 N/A LIFE INSURANCE The district provides a $25,000 term life insurance policy to all full-time employees enrolled in the medical program. Part-time employees in the medical program pay a pro-rated premium. Coverage is provided through Kansas City Life Insurance Company. Coverage terminates when employment terminates with the district. SUPPLEMENTAL LIFE INSURANCE You can purchase additional life insurance with Kansas City Life through the convenience of payroll deduction, to supplement your district-paid life insurance benefit. You may purchase up to an additional $25,000 supplemental life insurance policy. When enrolling in the supplemental life plan as a new employee, your coverage is guaranteed. After initial eligibility, you must complete a health statement, and coverage may be approved or denied. SHORT TERM AND LONG TERM DISABILITY Employees working 20 hours or more week can purchase short term and long term disability as a means to supplement income in the event of covered total disability injury or illness. Benefits are paid on a sliding scale based on the individual employee s salary. You may contact The Hartford or Horace Mann representatives for the enrollment process.
Medical Plans THE DISTRICT OFFERS YOU THE CHOICE OF TWO HEALTH CARE PLANS THE BASIC PLAN AND PLUS PLAN WITH DIFFERENT LEVELS OF COVERAGE, COSTS, AND FUNDING STRUCTURES. The Basic Plan is a traditional PPO plan, and the Plus Plan is an alternative that includes a taxqualified health care savings account (HSA). The Plus Plan is a federally qualified high deductible health plan (HDHP) which offers you the opportunity to open a Health Savings Account (HSA) if you are eligible. This HSA can be used to help pay for out-of-pocket health care expenses. The HSA allows you to roll unused funds over from one year to the next so that you can build a real nest egg to use for medical expenses for yourself and your dependents. Both plans have different levels of benefits depending upon the health care provider you choose. You will receive greater benefits, and your health care dollars will go farther when you receive care from a provider in the network. COST COMPARISON If you select coverage only for yourself, there is no cost difference between the plans. The district pays the entire cost for you. However, under the Plus Plan, if you are full-time and qualify for the HSA, you will receive a $600 contribution to your HSA from the district which you may use to help offset out-of-pocket expenses. Based on your actual medical expenses, the Plus Plan along with HSA contributions from the district may, in fact, be the lower-cost option. (New employees will receive a pro-rated share of the $600 based on their enrollment date. Part-time employees receive a pro-rated share of the $600.) Additionally under the Plus Plan, premium costs for dependents are less. NETWORK SAVINGS Our plan utilizes the HealthLink Open Access II network of participating physicians, hospitals, and associated health care providers. You receive the maximum benefits under the plan, and pay a smaller amount out of your pocket, when you seek medical treatment from a HealthLink Open Access II provider. When you seek treatment out of network, you are responsible for paying the difference between the usual and customary charge and the amount billed by the provider. DEDUCTIBLES AND OUT-OF-POCKET LIMITS The chart to the right shows that the amount you would pay out of your own pocket for deductibles is higher under the Plus Plan. Keep in mind that under the Plus Plan, for those full time employees covered January 1, the annual district contribution to your HSA in effect reduces a single participant s out-of-pocket limit by $600 leaving you with an outof-pocket limit of $800. Therefore, for innetwork services, your out-of-pocket limit is lower under the Plus Plan. Additionally, under the Plus Plan, the cost for prescription drugs is included in the out-ofpocket limits. Under the Basic Plan, your cost for prescription drug copays is in addition to your annual out-of-pocket limits. You should decide how you could reasonably budget for the deductible amount and out-of-pocket limit under either plan option if you were faced with a large health care claim. Your deductibles and out-of-pocket limits under both plans will continue to be based on a calendar year. SAVING IN THE HSA If you are a full-time employee enrolled in the Plus Plan and have coverage January 1, the district will contribute $600 annually to your HSA. You can make additional pre-tax contributions to your Plus Plan HSA through payroll deduction. HSA contribution maximums in 2016 are $3,350 for single coverage and $6,750 for family coverage. Additional catch-up contributions up to $1,000 are allowed for those age 55 and older. At your discretion, you may use the money in your HSA to reimburse yourself for eligible medical expenses, including, but not limited to, plan deductible and coinsurance. If you anticipate having very little health care costs, you may even be able to save enough in your HSA over time to cover more than the entire amount of your deductible and/or out-of-pocket limit. HSAs generally earn a competitive interest rate and offer a triple tax advantage to you contributions are taxfree, earnings are tax-free, and payments from the HSA are tax-exempt if you use them for qualified medical expenses. HSA ELIGIBILITY You must be eligible to open an HSA. The Internal Revenue Service requires that you meet these eligibility requirements: Be enrolled in the Plus Plan. You cannot be covered by another plan that has a deductible lower than $1,300 for single coverage or $2,600 for family coverage. You cannot be covered by another health plan with first-dollar coverage or benefits such as prescription copays or office visit copays. You cannot be covered by Medicare now, and will not be covered by Medicare in 2016. In 2016, you will not be claimed by your parents as a tax dependent. Your spouse is not enrolled in a traditional flex plan for 2016. CHANGING PLANS You will be allowed to choose between the plans each year during open enrollment. If you enroll in the Plus Plan for 2016, accumulate a balance in your HSA, and decide at a subsequent open enrollment that you wish to switch to the Basic Plan, you may do so. Once the money is in your HSA, it belongs to you. However, as long as you are enrolled in the Basic Plan, you will not receive any new HSA contributions from the district, and you may not contribute additional money into the HSA. DEPENDENT COVERAGE Dependent coverage is available at the employee s expense. Dependent children may be covered up to age 26. You may add dependents within 31 days of a qualifying event birth, marriage, or loss of coverage through spouse s/domestic Partner s employer.
2016 BASIC PLAN PLUS PLAN In-network Out-of-network In-network Out-of-network DEDUCTIBLE (PER CALENDAR YEAR) $500 / individual $1,000 / family $600 / individual $1,200 / family $1,400 / single $2,800 / family* $1,400 / single $2,800 / family* CO-INSURANCE OUT-OF-POCKET MAXIMUM (INDIVIDUAL / FAMILY) BASIC (SINGLE/FAMILY) PLUS $1,500 / (excludes $2,100 / (excludes $1,400 / (includes $4,200 / (includes ELIGIBLE MEDICAL SERVICES AFTER OUT-OF-POCKET MAX HAS BEEN MET CHILDHOOD IMMUNIZATIONS (BIRTH TO AGE 5) HOSPITALIZATION** OTHER COVERED MEDICAL SERVICES MENTAL ILLNESS / NERVOUS DISORDERS CHEMICAL DEPENDENCY (INPATIENT) PRESCRIPTION DRUGS RETAIL MAIL ORDER GENERIC* $15 copay $25 copay PREFERRED $30 copay $55 copay NON-PREFERRED $45 copay $90 copay Prescription costs apply the deductible, similar to eligible medical *If you have a brand prescription filled when a generic equivalent is available, you will pay the brand copay plus the difference in cost between the brand drug and the generic drug DISTRICT CONTRIBUTION TO HSA None $600 annually to HSA ($50 month prorated) Refer to the summary plan description for detailed information about exclusions and limitations *Plus Plan family deductible: If more than one son is covered on the Plus Plan, the full $2,800 deductible must be met before insurance pays. **Pre-certification is required prior to hospital admission or within 48 hours an emergency admission. To pre-certify, call (877) 284-0102.
Flexible Benefits Plans The district s Flexible Benefits Plan is administered through ASI. By participating, you reduce your income taxes and increase your take-home pay when you pay for predictable, eligible health care and dependent care expenses with pre-tax dollars. When paid through the Flexible Benefits Plan, you will save, on average, approximately 25% of each dollar spent on these expenses. In November, during open enrollment, you determine the amount of your predictable expenses in these accounts for the plan year January 1 through December 31. Your election is then divided by the number of paychecks you receive during the year, and deducted from each paycheck before taxes are calculated. As expenses are incurred, you file a claim with ASI for reimbursement from your pre-tax Flexible Benefits Plan, and receive a tax-free reimbursement. New employees must enroll in the plan within 31 days of their hire date. Open enrollment occurs in November of each year and new elections take effect January 1. Once you enroll in the plan, you cannot stop or change your contribution until the end of the plan year unless you exience a change in family status. To receive reimbursement, you must incur the eligible expenses on or before December 31 of the plan year. You forfeit any money in your account that is not used by December 31. Claims must be filed no later than March 31 of the following year to claim expenses and to avoid forfeiture. Think about your expenses and how you can save 25% by using the Flexible Benefits Plan! (For a detailed listing of eligible and ineligible expenses, visit ASI s Web site at www.asiflex.com. Educational meetings occur in November to assist employees during open enrollment. ASI representatives are also available for consultation during the year. Refer to the district s Summary Plan Description for further information on exclusions and limitations.) PREMIUM SAVINGS Effective 2014, all medical and dental insurance premiums will be deducted from your paycheck on a before-tax basis. You can stop premiums if you have a qualifying event, such as divorce, other coverage available, or emancipation. If you think you will want to stop insurance in 2016 without having a qualifying event, you can opt out of the before-tax deduction annually during open enrollment. TRADITIONAL FLEX You can elect up to $2,500 plan out-of-pocket expenses not covered by insurance. The Traditional Flex plan can be used if you enroll in the district s Basic Plan. Your election can include expenses for your dependent family members, even if they are not on the district s medical and/or dental plan. Through payroll deduction on the flex plan, you put money away throughout the year, yet have the money available immediately to pay the doctor at the time of service. Health care expenses you can be reimbursed for include, but are not limited to: Medical deductibles and copays Dental deductibles and copays Prescription drug copays Eyeglasses and contact lens expenses Eye exams Orthodontia Corrective eye surgery Hearing aids and batteries Over-the-counter medications (with doctor s prescription) Ineligible expenses include, but are not limited to: Elective cosmetic surgery or services Weight loss programs As expenses are incurred, you file a claim with ASI for reimbursement, and receive a tax-free reimbursement. Remember to plan carefully when you make your annual election, as you forfeit any money not used by December 31. LIMITED FLEX You can elect up to $2,500 plan year for out-of-pocket expenses not covered by dental and vision insurance. The Limited Flex plan can be used if you enroll in the district s Plus Plan with the HSA. Your election can include expenses for your family members, even if they are not on the district s medical and/or dental plan. Through payroll deduction on the Limited Flex plan, you put money away throughout the year, yet have the money available immediately to pay the doctor at the time of service. Only these expenses are reimbursable under the Limited Flex plan: Dental Vision No medical expenses can be reimbursed under the Limited Flex plan. As expenses are incurred, you file a claim with ASI for reimbursement, and receive a tax-free reimbursement. Be sure to plan carefully when you make your annual election, as you forfeit any money not used by December 31. You can elect up to $5,000 plan a single taxpayer, or a married couple filing jointly. Contribution changes are allowed for the Dependent Care Reimbursement Account if you change providers or have a job status change. You will only be reimbursed for amounts that have been withheld from your paycheck. Plan carefully when you make your annual election, as you forfeit any money not used by December 31.
Planning for Retirement Why it s never too early TEACHER RETIREMENT All full-time certified employees are required by state law to participate in the Public School Retirement System of Missouri (PSRS). You pay 14.5% of your salary plus insurance costs to the retirement system, and the district matches your contribution. If hired April 1, 1986, you also pay 1.45% in Medicare taxes. Part-time certified staff working 17 hours week have the option of Teacher or Non-Teacher retirement. NON-TEACHER RETIREMENT All non-certified staff working 20 hours a week or more, and eligible part-time staff members not participating in the Teacher Retirement program, are required by state law to participate in the Public Education Employee Retirement System (PEERS). You pay 6.86% of your salary plus insurance costs to the retirement system, and the district matches your contribution. You pay 7.65% for Social Security and Medicare taxes. NEED MORE YEARS OF SERVICE CREDIT WITH PSRS/PEERS FOR RETIREMENT? Contact PSRS/PEERS about your eligibility to purchase whole or partial years of service credit to help build your retirement. Participating in the 403(b) and 457(b) plans makes it easy to put away money on a before tax basis to accumulate the dollars you need to purchase years of service credit. There are no tax penalties when using 403(b)/457(b) money to purchase years of service. VOLUNTARY RETIREMENT The district offers three voluntary retirement plans for you to maximize your retirement income. You may contribute as little as $25 month. You may enroll, change, or cancel your contributions at any time in the 403(b) and/or 457(b) plans. 403(b) AND/OR 457(b) PLANS You may participate in the 403(b) and/or 457(b) plans to save money for retirement on a pre-tax basis. The money you contribute is deducted from your gross wages before federal and state income taxes are calculated. All contributions are invested in a tax deferred vehicle of your selection. Your investment choices include fixed income and various mutual funds. Any increases in funds grow tax-free until the time you elect to withdraw them. You may choose to save in both plans. Contributions to the 457(b) are not combined with 403(b) contributions when applying the annual limits shown. Visit www.cpsk12.org for the 403(b) and 457(b) representative contacts. 403(b) ROTH Your contributions to the 403(b) Roth are -tax contributions. 403(b) Roth plan maximums are $18,000 for 2016 and $24,000 if you are over the age of 50. Choice of Two Plans Contributions made pre-tax Tax-deferred accumulation Annual contribution limits up to 100% of includable compensation Over age 50 addition to annual contribution limits Over 15 years of service Catch-up with current employer Vesting Surrender charges Withdrawals prior to age 59 1 / 2 Rollovers mitted Investments Investment advisors Purchase years of service with PSRS/PEERS 457(b) and 403(b) Plans 2016 - $18,000 2016 - $6,000 457(b) - None 403 (b) - Up to $3,000 year additional, $15,000 lifetime total 100% immediate 457(b) - None 403(b) - Based on contract provisions 457(b) - No penalties 403(b) - Potential 10% penalty Fixed account and various mutual funds Edward Jones and LaBrunerie Financial You may enroll, change, or cancel your contributions at any time.
WORKERS COMPENSATION Employees injured on the job are covered by workers compensation insurance. Employees are required to immediately report the injury to their suvisor and complete an injury report. Injured employees needing medical attention for minor injuries must report to Dana Jones, Occupational Health Nurse, located in the Aslin Building. Call Dana at (573) 239-1172 for assistance. For serious injuries, the employee must go to Mizzou Urgent Care located at the South Providence Medical Park, 551 East Southampton Drive. Charges from providers other than Mizzou Urgent Care will not be covered. BENEFITS ONLINE To get the most up to date announcements and information about the district s benefits, you can access our Web site at www.cpsk12.org and click on Departments, then Benefits. SICK LEAVE Full time staff members earn one day of sick leave month Part time staff members receive a centage of the same in proportion to their full-time equivalent (FTE) VACATION LEAVE Full time 12-month employees earn one day of vacation at the end of each full month of employment Part time 12-month employees receive a centage of the same in proportion to their FTE PERSONAL LEAVE Full time staff members receive three paid sonal days at the beginning of each year Part time staff members receive a centage of the same in proportion to their FTE At year end, any unused paid sonal leave will be converted to sick leave Medical IMPORTANT CONTACT INFORMATION Hospital Pre-certification Prescription Drugs Dental Life Insurance Short-term/Long-term Disability Flexible Benefits Plan Employee Assistance Program State Retirement 457(b) Plan 403(b) Plan CoreSource Benefit Services Group: CP0000 CoreSource Online Services HealthLink Open Access II Network MedTrak Basic Plan Group # 1000282 Plus Plan Group # 10001141 Mail Order Customer Service Mail Order Refills Web site Ameritas Group: 301036 Kansas City Life Group Life: GL3929 Supplemental Life: SL3929 The Hartford Horace Mann ASI Web site Employee Assistance Program Public School Retirement System/Public Education Employee Retirement System Edward Jones LaBrunerie Financial (800) 990-9058 www.mycoresource.com (877) 284-0102 www.healthlink.com (800) 771-4648 (800) 345-1985 (800) 797-3345 www.medtrakservices.com (800) 487-5553 www.ameritas.com (800) 874-5254 (913) 693-2936 (573) 239-1875 (573) 442-3035 (800) 659-3035 www.asiflex.com (573) 815-6034 (800) 392-6848 See CPS Web site for list of advisors Jane Harmon Benefits Manager (573) 214-3710 jharmon@cpsk12.org Employee Benefits Contacts Lakeia Clark or Kelly George Benefits Assistants (573) 214-3710 lclark@cpsk12.org or kgeorge@cpsk12.org