Overview of Benefits

Pre-Tax Benefits

Health Insurance: Anthem

Health Savings Accounts: HealthEquity
– Employee Maximum $4,150/year
– Family Maximum $8,300/year
HSA plans can only be established in conjunction with a qualified High-Deductible Health Plan (HDHP)
Isle of Wight County Schools contributes $600 in October to eligible employees’ HSA accounts.

Flexible Spending Accounts: Ameriflex
– Medical Reimbursement Maximum: $3,200/year
– Dependent Care Reimbursement Maximum: $5,000/year
– Limited Purpose Reimbursement Maximum: $3,200/year
You will need to re-enroll in the Flexible Spending Accounts if you want them to continue next year.
IF YOU DO NOT RE-ENROLL, YOUR CONTRIBUTION WILL STOP EFFECTIVE JUNE 30, 2024.

Dental Insurance: Delta Dental

Vision Insurance: Anthem

Cancer Benefits: Colonial Life

Accident Benefits: Colonial Life

Medical Bridge Benefits: Colonial Life

Post-Tax Benefits

Short-Term Disability Benefits: Colonial Life

Long-Term Disability Benefits: Sun Life

Critical Illness Benefits: Colonial Life

Life Insurance: Colonial Life
– Term Life Insurance
– Whole Life Insurance

Additional Benefits

Student Loan Assistance Program: GradFin

Please note your insurance products will remain in effect unless you speak with a representative to change them.

Enrollment Period: May 13, 2024 – May 31, 2024

Effective Dates: July 1, 2024 – June 30, 2025

ELIGIBILITY:

– Employees must work 30 or more hours per week to be eligible for benefits.

IMPORTANT NOTICES:

– When do my benefits start? The plan year for Ameriflex Spending Accounts, Health Equity Health Savings Account, Delta Dental Insurance, Anthem
Vision and Health Insurance, Sun Life Long Term Disability, and Colonial Insurance Products runs from July 1, 2024 through June 30, 2025.

– When do my deductions start? Deductions for Ameriflex Spending Accounts, Health Equity Health Savings Account (HSA), Delta Dental Insurance,
Anthem Vision and Health Insurance, Sun Life Long Term Disability, and Colonial Insurance Products start July 2024 for enrolled employees.

– Why have my Accident or Medical Bridge benefits not started yet? The Health Screening Rider on the Colonial Accident and Colonial Medical Bridge plan have a 30-day waiting period for new enrollees. Coverage, therefore, will not begin until July 31, 2024.

– How do Flexible Spending Account (FSA) funds work, and do my FSA funds have to be used by a specific deadline? Flexible Spending Account expenses must be incurred during the plan year to be eligible for reimbursement. After the plan year ends, an employee has 30 days to submit claims for incurred qualified spending account expenses (or 90 days after employment termination date). If employment is terminated before the plan year ends, the spending account also ends. Failure to use all allotted funds in the FSA account will result in a “Use It or Lose It” scenario. Your plan also includes a rollover provision! This means that if you have money left in your FSA at the end of the plan year, you can carryover up to $640 into the next plan year. Any remaining funds beyond $640 is forfeited under the “Use It or Lose It” rule.

– My spouse is enrolled in an Health Savings Account (HSA), am I eligible for an FSA? As a married couple, one spouse cannot be enrolled in a Medical Reimbursement FSA at the same time the other opens or contributes to an HSA.

– How do Dependent Care Account (DCA) funds work and when do they need to be used? Dependent Care Accounts are like FSA accounts and allow you to request reimbursement up to your current balance. However, you cannot receive more reimbursement than what has been deducted from your pay. It’s important to note that any remaining funds in your DCA account must be utilized before the deadline. Failure to use all allotted funds in the DCA account will result in a “Use It or Lose It” scenario. Your plan includes a grace period which is an additional 2.5 months (running July 1, 2025, through September 15, 2025) during which you can incur eligible expenses that can be reimbursed. Therefore, you have from July 1, 2024 through September 12, 2025 to incur qualified expenses eligible for reimbursement. If you do not incur qualified expenses by September 15, 2025 and/or file by September 30, 2025 any contributions are forfeited under the “Use It or Lose It” rule.

– When will I get my card? If you will be receiving a new debit card, whether you are a new participant or to replace your expired card, please be aware that it may take up to 30 days following your plan effective date for your card to arrive. Your card will be delivered by mail in a plain white envelope. During this time you may use manual claim forms for eligible expenses. Please note that your debit card is good through the expiration date printed on the card.

– I want to sign my family up for benefits as well, what information will I need? If signing up for any coverage on your spouse and/or children, please have their dates of birth and social security numbers available when speaking with the Benefits Representative.

– What is the difference between pre and post-tax benefits? Pre-tax benefit contributions are taken from an employee’s paycheck before state and federal taxes are applied. Post-tax benefit contributions are paid after taxes are deducted. It’s important to note that some coverages may still be subject to taxes even if paid for through pre-tax deduction or employee contribution.

– Can I change my benefit elections outside of the enrollment period? Elections made during this enrollment period CANNOT BE CHANGED AFTER THE ENROLLMENT PERIOD unless there is a family status change, otherwise known as a qualifying life event (Mid-Year Events), as defined by the Internal Revenue Code. Examples of a QLE can be found here. Once a Mid-Year Event has occurred, an employee has 30 days to notify PGB’s VA Service Center at 1-800-387-5955 to request a change in elections.

– I have a pre-existing condition. Will I still be covered? Some policies may include a pre-existing condition clause. Please read your policy carefully for full details.