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Blue Springs School District Tri-Star Systems FSA / Colonial Life Annual Enrollment: April 7 - May 30, 2012

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Blue Springs School District Tri-Star Systems FSA / Colonial Life Annual Enrollment: April 7 - May 30, 2012. Tri-Star Systems Flexible Spending Accounts. www.coloniallife.com. Flexible Spending Accounts. There are three types of Flexible Spending Accounts:

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Blue Springs School District Tri-Star Systems FSA / Colonial Life Annual Enrollment: April 7 - May 30, 2012

tri star systems flexible spending accounts
Tri-Star Systems Flexible Spending Accounts

www.coloniallife.com

www.coloniallife.com

flexible spending accounts
Flexible Spending Accounts
  • There are three types of Flexible Spending Accounts:
    • Health Care Reimbursement Account
    • Dependent Care Reimbursement Account
    • Limited Use Health Care Reimbursement Account – can only be used if you are enrolled in the Aetna Consumer Driven Plan (QHDHP)
  • All employees must enroll / re-enroll in their Flexible spending accounts.
  • Meet with your Colonial Life Benefits Counselor to complete your enrollment.

www.coloniallife.com

www.coloniallife.com

health care reimbursement account hcra
Health Care Reimbursement Account – (HCRA)
  • How the FSA Can Help You:
  • Setting aside a portion of your pay with an FSA reduces
  • both your annual taxable income and the amount you pay for
  • out-of-pocket health expenses.
  • The full amount you set aside for your calendar FSA contribution is
  • available on your first day of coverage for expenses.
  • Your FSA helps you pay for deductibles, copays, coinsurance, dental, vision
  • and many other expenses.
  • You can use your FSA for your or your dependent's health care expenses,
  • even if they are not enrolled in your medical or dental plan.

www.coloniallife.com

www.coloniallife.com

health care reimbursement account hcra1
Health Care Reimbursement Account – (HCRA)
  • How It Works:
  • You may deposit from $600 to $2,500 annually on a pre-tax
  • basis in your Health Care Reimbursement Account.
  • When you or your dependents incur an eligible expense, simply
  • e-file your claim on line via Tri-Star secure website: www.tri-
  • starsystems.com. You must include proof of the expense with your
  • claim form.
  • For a list of eligible expenses, review the IRS Publication 502, Medical
  • and Dental Expenses at www.tri-starsytems .com
  • Tri-Star can send you a check or direct deposit your payment into
  • your checking or savings account. To direct deposit, you must
  • complete a direct deposit form.

www.coloniallife.com

www.coloniallife.com

dependent care reimbursement account dcra
Dependent Care Reimbursement Account – (DCRA)
  • How Can the DCRA Help You:
  • The Dependent Care Spending Account (DCRA) is a
  • benefit to help pay for dependent care expenses on a before tax basis .
  • Eligible expenses include expenses you incur for your dependents so
  • you can work, such as; child care, elder care or disabled dependent care.
  • Dependents are defined as children under age 13 or anyone age 13 or over
  • who is mentally or physically handicapped and relies on you for financial
  • support.

www.coloniallife.com

www.coloniallife.com

health care reimbursement account dcra
Health Care Reimbursement Account – (DCRA)
  • How It Works:
  • You may deposit from $600 to $5,000 annually on a pre-tax
  • basis in your Dependent Care Reimbursement Account.
  • When you incur an eligible expense, simply e-file your claim on line
  • via Tri-Star secure website: www.tri- starsystems.com. You must
  • include proof of the expense with your claim form.
  • For a list of eligible expenses, review the IRS Publication at
  • www.tri-starsytems .com
  • Tri-Star can send you a check or direct deposit your payment into
  • your checking or savings account. To direct deposit, you must
  • complete a direct deposit form.

www.coloniallife.com

www.coloniallife.com

flexible spending grace period
Flexible Spending Grace Period

Important Information:

Expenses claimed from your Flexible Spending Accounts must be incurred during the Plan Year: (7/1/2012 – 6/30/2013).

You have 3 months after the end of the plan year (9/30/2013) to file your claims with Tri-Star.

Any money not claimed for the Plan Year must be forfeited – sometimes called the “Use It or Lose It” Provision.

www.coloniallife.com

www.coloniallife.com

slide9
Colonial Life Voluntary Insurance Products

www.coloniallife.com

www.coloniallife.com

what are voluntary insurance products
What Are Voluntary Insurance Products?
  • Voluntary insurance plans are NOT designed to replace insurance you already have.
  • Voluntary insurance enhances your existing benefits package.
  • Benefits can be used to help pay expenses that other insurance plans don’t cover.

www.coloniallife.com

www.coloniallife.com

colonial life
Colonial Life

The Advantage of Colonial Life plans:

  • Most plans pay in addition to other benefits you may have with other insurance companies.
  • Benefits are paid directly to you, unless you specify otherwise.
  • With most plans, you can keep your coverage even if you change jobs or retire.
  • Most plans are guaranteed renewable.

www.coloniallife.com

www.coloniallife.com

colonial life1
Colonial Life
  • Accident Insurance
  • Cancer Insurance
  • Critical Illness Insurance
  • Disability Insurance for school personnel
  • NEW! Hospital Confinement Indemnity Insurance

www.coloniallife.com

www.coloniallife.com

colonial life2
Colonial Life

Accident Insurance

  • Helps pay the direct (medical) and indirect (non-medical) expenses that may result from a covered accident.
  • Provides benefits for initial care and treatment, in addition to some follow-up care that you may need.

Product underwritten by Colonial Life & Accident Insurance Company.

Policies have exclusions and limitations that may affect benefits payable.

www.coloniallife.com

www.coloniallife.com

colonial life3
Colonial Life

Cancer Insurance

  • Helps protect you against the indirect costs and other expenses associated with cancer diagnosis and treatment.
  • Benefits payable for:
    • Specified cancer screening tests.
    • Diagnosis of skin cancer.
    • Hospital confinement and surgical benefits.
    • Radiation/chemotherapy.
    • Transportation and lodging.

Product underwritten by Colonial Life & Accident Insurance Company.

Policies have exclusions and limitations that may affect benefits payable.

www.coloniallife.com

www.coloniallife.com

colonial life4
Colonial Life

Critical Illness Insurance

  • Helps protect your financial security if you experience a specified critical illness.
  • Pays a lump-sum benefit upon diagnosis.
  • The benefit is paid to you unless you specify otherwise—use the money where it’s needed most!

Product underwritten by Colonial Life & Accident Insurance Company.

Policies have exclusions and limitations that may affect benefits payable.

www.coloniallife.com

www.coloniallife.com

colonial life5
Colonial Life

Disability Insurance for school personnel

  • Helps protect your income and lifestyle if you are unable to work due to a covered accident or covered sickness.
  • Use benefits to help pay for:
    • Mortgage or rent payments.
    • Utility bills and other household expenses
  • Guaranteed issue* amounts are available to new hires that apply for this coverage within the first 365 days following their date of hire!

*Guaranteed issue means that employees cannot be turned down for coverage based on his/her health status.

Product underwritten by Colonial Life & Accident Insurance Company.

Policies have exclusions and limitations that may affect benefits payable.

www.coloniallife.com

www.coloniallife.com

colonial life6
Colonial Life

Hospital Confinement Indemnity Insurance

  • Designed to supplement your existing major medical coverage.
  • Lump-sum benefit helps you to pay medical and non-medical expenses associated with a hospital stay, such as:
    • Deductibles or co-payments.
    • Transportation to and from the hospital.
    • Emergency Room visits.
  • During the 2012 annual enrollment, Guaranteed issue* amounts are available during this enrollment only!

*This means if participation requirements are met, employees cannot be turned down for coverage based on his/her health status.

Product Life & Accident Insurance Company.

Policies have exclusions and limitations that may affect benefits payable.

www.coloniallife.com

www.coloniallife.com

what happens next
What Happens Next?
  • Take advantage of your options.
  • Don’t be afraid to ask questions.
  • We will meet with you individually to help you tailor your benefits plan to your needs.

www.coloniallife.com

www.coloniallife.com

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