Beyond Enrollment: Making the Most of Your Benefits
Thank you for joining us today for beyond enrollment, making, the most of your benefits, this. Presentation, is, for current employees and. Provides a refresher, and tips for understanding. Your benefits options. And making. The most of your state employee, benefits. Package. The. Topics we'll cover today include. Benefits. Overview. Making. Changes. Dependents. Texas. Employees, group, benefits, program, or GBP. Textbooks. Texas. Saver, ers. Retirement, plan. Designate. Your beneficiaries. And resources. When. Is the last time you reviewed your benefits, did, you enroll when you were first employed, and haven't reviewed them since well. Whether, you've been working for the state for one year or twenty we, recommend, you review your benefits. At least once a year to, make sure you're, enrolled, in the best benefits, options, for you and your dependents. Then. I recommend, you learn about how to get the most value from. Your benefits. Let's. Do a quick benefits overview, offer through, our s2 state employees, and higher education, institutions. Health. Coverage dental, coverage data. Texas, vision optional. Term life insurance, dependent. Term life insurance. Voluntary. Accidental, death and dismemberment or, AD&D. Texas. Income, protection plan, or tip, textbook. Texas. Favor and the. Ers, retirement, plan if applicable. We'll. Go into more detail about each one in, the next few slides. Some. Of you may be well beyond your first 31 days of employment, if, so it's important, to understand, that due to IRS, guidelines you're. Limited, to when you can make changes, to your benefits, you. Have two opportunities to, make changes to your benefits throughout, the year during. Summer enrollment or, you. And/or, your eligible, dependents, experience, a qualifying life event or qle that, allows you to make a change, the. Most common qles, includes marriage, divorce, or. Earth or adoptions, employment. Status change, for you or a dependent, and significant. Change in cost or coverage, for, dependents non GBP, health or dental coverage cost. Of daycare leave. Of absence or return from lead you. Have 31, days including. The qle event, date to enroll in or make changes to your benefit. Summer. Enrollment is the one time of year you can make changes, without. Experiencing. A qle, summer. Enrollment is typically held in July with elected, changes, effective, September 1st, if. They make changes to your Texas saver account at any time you. Can also update your beneficiaries. For your life insurance and ers retirements, at any time. As. A. Reminder, you, can also enroll eligible dependents. And coverage during summer enrollment for. A list of eligible dependents. Check out the ers website, or the dependent eligibility chart. In the new employee benefits. Guide. You. Can enroll eligible dependents. And health, coverage one. Of three dental plans data. Texas vision, dependent. Term life insurance and. Voluntary. A B and D you plus family. Regardless. Of whether you add a new dependent their summer enrollments or qle, there, are certain certifications. And verification. Processes, you'll, need to complete when, enrolling them in your benefits. You'll. Certify, and verify your dependents, eligibilities. Through, the, dependent, child certification. Which. Is completed. Online at, the time of enrollment and. If. Adding, your dependents, to health coverage the dependent, eligibility verification. Process. Must be completed. Enrolling. Dependent, children in any GBP. Coverage requires, you to certify, that the child is eligible for benefits, the. Dependent, child's certification. As part. Of the online enrollment process, where you tell era your, relationship, to them it. Must be completed before the enrollment, can be finalized. The. Dependent, eligibility verification. Is part of an audit performed, on every spouse and child enrolled, in health coverage, once. A dependent, is enrolled, in health coverage alike, solutions, a third party administrator will. Send a letter outlining, the. Steps of, the verification process, the. Names of the dependents, needing verification. The. Type of documents, you need to provide for the verification such. As a marriage certificate and the. Due date to submit the documentation. You. Must comply or your dependents, will be dropped from all coverage, if a. Dependent, is found ineligible, ers. Will remove him or her from all GBP, coverage. Documentation. Proving your, dependents, eligibility. Must, be dated prior to the date you elected to enroll them in health coverage for. Example. Jane. As the common-law spouse during, summer enrollment the, documentation. Shall need to verify a common-law, spouse is, a declaration of, informal, marriage filed with the county courthouse and a. Current federal, tax return filing as married, or, proof of joint ownership issues, this in the last six months her.
Documentation. Must be dated prior to when she added them to benefit if she. Cannot provide proof of the relationship, the dependent, will be dropped from coverage. Ers. Implemented, these requirements, to ensure that all, dependents, enrolled in, the DVP are eligible. The. Cost of health care can, be expensive, paying. Out claims for ineligible, dependents. Cost you and ers. Money this. Prevents, cases of fraud and unnecessary. Expenses. Please. Note if you're adding a dependent, that has previously, been through, the certification and, verification. Processes, and they were approved you. Will not have to recertify them, again. Now. That you know when you can make changes and who you can enroll in benefits, let's, talk more about your benefits option. Full-time. Employees, are automatically. Enrolled in health selective. However, did, you know you have other options, for health coverage. The. Floorplan options, that may be available are. The. Point of service plan health selective Texas. Consumer. Directed, health select a high deductible health plan combined, with the health savings account, or HSA. Three. Health maintenance organizations. Or HMO, and an. Out of state plan through health collective Texas. Next. Let's look at the features of each plan to make sure you're, enrolled in the best option, for you and your dependents. For. Those of you enrolled in health elective, Texas you, should know that how much you pay is determined, by where you receive the service, if. You use network, providers, your plan pays more, of the cost if. You're enrolled in this plan you should know the following information. The. Plan requires you to designate a, PCP to access, in network benefits the. PCP, will be the doctor you see for most medical, services. If. You need to see a specialist, your, PCP, must, get a referral before, you access services, or you'll pay higher, out-of-pocket cost. When. Using in-network, providers, there, is no annual deductible. Which, is the amount paid out of pocket before. The plan starts paying towards, covered, services, a copay. Or coinsurance. Which. Is the amount paid out of pocket for medical, services will. Apply when accessing, medical services. The. Plan covers a hundred percent of, n network preventive, care when coded as preventive, by the doctor. Mental. Health benefits are included. The. Prescription, drug plan administered. By autumn rs is included, at no additional cost. Co-pays. For prescription. Drugs are divided, into three tiers with, varying, cost, tier, 1 includes, an expensive, medications, such, as generic, drugs, care. To include lower, costs for brand-name, drugs Tier. Three includes, non-preferred. Brand name, drugs with a higher cost. There's. A $50, deductible per, individual, that applies before the plan starts paying towards, your prescription, drugs the. Deductible, resets, on January, 1st if. You're enrolled in consumer, directed health select, your, plan features include, a high, deductible health plan and health, savings account, or HSA. The. High deductible health plan features include, no, PCP, or referrals, are required. Coinsurance. Applies, after the deductible is met and, network. Preventive, services, are covered at a hundred percent and, mental. Health benefits are included. Consumer. Directed health select, participants will, be responsible, for paying all covered, medical and prescription drug, expenses, until. The deductible, is met, deductible.
Is. $2,100. Per individual. And. 4,200. Dollars per family. Once. The deductible, is met the, plan pays 80%, for, its covered and network, medical, services, and prescription, drugs and a 20%, coinsurance will, apply the. 20%, is the amount you'll pay out-of-pocket. You. Have access, to the large health select provider network, a major. Benefit, to enrolling in a high deductible health plan is that it works in combination with, an HSA. What's, an HSA, you, can set. Aside pre-tax, money, from your paycheck, use. Those funds towards, eligible, medical, and prescription, drug, expenses, and it. Helps meet your deductible. Your. Money is deposited into, an account with, optin Bank which, is the HSA, third-party. Administrator. You. Can use this account towards, eligible, medical, and prescription, drug, expenses and it, will lower your taxable, income. Some. Benefits to enrolling in an HSA, include, the. State will make a monthly contribution, of $45, per individual, and $90. Per family, you. Can also make additional, monthly pre-tax, contributions from. Your paycheck, into the HSA. The balance carries over from one year to the next the funds. Can be kept even if you switch health plans or leave state employment. Funds. Can be used towards, qualified, medical expenses for, you your spouse and eligible, dependents, and, once. $2,000. Is accumulated, in the account the, funds can be invested. The. IRS sets the maximum contribution allowed, each year the. Current combined, annual maximum. Contribution. An employee can make is. $3,500. Per individuals. And, $7,000. For, families. If. You're enrolled in a, health, maintenance organization. Or HMO. Your. Plan features include all. Medical, services are accessed through the HMO, network of doctors. No. Annual deductible. Preventive. Services, are covered at a hundred percent and. Mental. Health benefits are included. Next. Let's look at the available, HMOs, and their service areas. Community. First health plan is, available in the San Antonio area. Participants. Must choose a. PCP. Although. Referrals, are not required, to see a specialist, some specialists. May require one from your PCP. Sutton. White health plan. Scott. & White health plan, is available, in Central Texas, there's, no PCP, required and you. Can use any and network provider without a referral. Chelsey, care powered by community, health choice is available, in the Houston area there. Is no PCP, required and you, can use any any network provider without referral. If. You live or work in the plan service area you can role in the plan. Each. HMO, provides their own prescription, drug coverage. No. Co-pays for prescription, drugs are divided, into three cheers with bearing cloth, heroin. Includes, inexpensive. Medication, such as generic, drugs tier. 2 includes lower-cost, preferred, brand name drugs and, tier 3 includes, non-preferred. Brand name, drugs with the higher cost a, $50. Per individual, deductible, will apply before, the plan starts paying towards, your prescription, drugs. Deductible. Resets, on September, 1st. We. Recommend that you take a look at the health plan comparison chart, to learn about your out-of-pocket cost, for, various types of services for. Example if, you visit a PCP. Lift, health elective Texas you'd, pay $25. Consumer-directed. Health select. You pay 20% after, the deductible is met. Community. First in sutton life you. Pay $25. And kelsey. Care powered by community, health choice you'd pay $15. The. Full health plan comparison chart posted, on ers website and as a great resource to help you know how much you may have to pay out-of-pocket for a covered service to. Maximize, the benefits, of your plan it's, important, to understand, the difference between an, network and out of network levels, of coverage as. Mentioned. Previously where. You receive services, determines. How much the plan will pay for your medical expenses and, how, much you'll pay out-of-pocket. This. Means to save on medical expenses you. Should use in-network, providers, and get the appropriate referrals. When necessary if. You're. Enrolled in health selective Texas and receive, medical, services, with an in-network provider. There. Is no deductible. After. Any applicable, kopazar, paid the plan pays 80% a. 20%. Coinsurance may, apply depending on the type of services, received. For. Example, Matthew. Goes to see his designated, PCP, he'll. Pay $25. For the office visit if.
Pcp A refers him to see a specialist. When. He goes to the specialist, he'll pay $40. For the office visit a, 20%. Coinsurance may, apply if additional, services, are received at an extra cost during, the visit. If. Matthew access, to services, from a non designated, PCP. And/or, he, doesn't get a referral, before, seeing a specialist, it, will move him from the in-network level, of coverage to the out-of-network level of coverage and he'll pay more. Accessing. The out of network level of coverage will always have higher, out-of-pocket expenses. And cost you more. For. Example, if, Matthew chooses, to see an out-of-network specialist. Or, an N Network specialist, without a referral he'll. Be charged under the out of network level of coverage and instead. Of the $40, copay cell. Has to meet the $500, individual. Deductible, or $1500. Per family before, the health plan will start to pay towards, covered services, once. The deductible, is met the, out-of-pocket coinsurance, doubles, to 40%, instead, of 20%, under, the N network level of coverage. If. You are enrolled in, consumer-directed, health select, using, an in-network provider. And pharmacies, will save you on your out-of-pocket, expenses. Using. A provider not in the health select network will move you from the n network level of coverage to the out of network level this. Means that a decibel and coinsurance amount, double. Individuals. Who go out of network often, are most surprised by balanced billing, until. They get the balance though they don't realize how much going. Out of network really, can cost. Balanced. Billing happens, when the provider charges a patient, the, difference between their usual, charges, and the health plans allowable, amount the. Allowable amount is, based on the discount, the plan negotiate, with, network, providers. When. You go to an out-of-network provider, you, don't have that negotiated, discounts and the provider might bill you for the difference, depending. On the service balance, bills can be hundreds, or even thousands, of dollars. Help. Select the Texas participants, living in the Houston area have, the option of using providers. In the kel-tec bowls network, no. Need to designate a Kelseyville doctor, as your PCP. If you, access any services, outside, of the Kelsey Siebels Network without, a referral they'll. Be charged under the out of network level of coverage even, if the provider is in the health celesta types of network, remember. If you want to see providers, outside of the Kelsey siebel Network you'll, want to update your PCP, to, a helpful, Esav texas provider before accessing, services. With. An HMO, you must use a provider within. The HMO, network in order, for the plan to cover medical services, the HMOs. Don't have the out of network level of coverage, unless. There's no emergency if you. Choose to use a provider outside. Of the HMO, Network. You'll. Be responsible for the full cost of the medical services, you received. If. You. Live or work outside of Texas and, now that state plan is available through health selective, Texas, at. A state coverage is essentially, the same as in network coverage through health selective, Texas but. Differs slightly. You'll. Still have in-network, and out-of-network level. Of coverage. You'll. Still have in-network, and out-of-network levels. Of coverage however, under. The in network level of coverage a PCP, isn't, required and. Referrals, are not necessary, to see a specialty, physician, if, you. Move out of Texas, you can update your county and address, by logging. Into your ers, online, account by. Calling ers or through, your benefits coordinator. Remember. Unless it's an emergency. If you access medical services, outside of Texas and have not updated your, county and address you'll. Pay the higher out of network rates, once. The county and address are updated, you'll be switched to the out of state plan through health selective Texas effective. The first of the month following the address change if, you. Have a covered dependent, who moves out of state and they're enrolled in health selective Texas you'll.
Want To contact Blue. Cross and Blue Shield of Texas and have only the dependents, address. Updated. Regardless. Of what fine you're enrolled in no one to look for in-network providers. You. Can use the ers website to find more information each. Health plan has an, online search tool to help you locate an, in note. Each. Health plan has an online search tool to help you locate an in-network provider. In your area you can, also call the health plan administrator, for assistance, and. Remember. It pays, to stay in the network. Did. You know there are wellness programs available through, ers and your GPP health plan. What. Is the most popular benefits, that each health plan is the nurseline each, plan has a 24/7. Nurseline that offers you access to registered, nurses that can answer many of your general health questions, for. Example you. Can call a nurse line for advice on whether you should use ice or heat packs on your spring the. Nurses can also advise, on more serious illnesses, or injuries encouraging. You to call your doctor in the morning or to immediately, seek emergency services. Did. You know that your daily lifestyle choices may, be setting, you up for illness, later in life or, maybe they are impacting, your life right now taking. A health assessment available. For your GBP, health plan will allow you to find out your, level of wellness and help you set wellness goals then. The health plan will provide you helpful tips to help achieve your, wellness goals in, some. Cases they may recommend one, of their wellness coaching programs. As, its backhoes cessation, program or weight management program. If. You. Are your covered, dependent, on the plan become pregnant there, are specific wellness programs, that will provide you with information and, resources throughout the pregnancy if, you're you're covered dependent, have a chronic illness like diabetes or, asthma contact. Your health plan for helpful information and, resources that, will aid you in managing your condition if. You. Need help to quit smoking you, may consider choose, to quit or CTQ. CTQ, is a program, offered to members that encourages, a, go free lifestyle, and allows tobacco users, to have their GBP. Tobacco, user premium, waived for the plan year how. It works one. Contact. Your doctor to discuss which, tobacco, cessation, program, is right for you. GBP. Health plan participants. Have a hundred percent coverage for, tobacco cessation, consultations. With, your in Network PCP, when. The physician coats, them as a visit, for tobacco counseling. Every. GBP. Health plan has at least one tobacco cessation, program, and each plan covers various. Tobacco cessation, prescription. Drugs at 100 percent for, more information, visit the. Health plan website or call the number on the back of your ID card. To. Complete, that program. 3. Return, to your doctor discuss, your program completion and, have your doctor sign and date the ctq, certification. Form which. Can be found on the ers website. For. Submit. Your completed form, back to ARS. Remember. The form must be postmarked, no later than the end of the plan year 5. Ers. Will review the form and a letter will be sent letting, you know once it's approved. Once. Approved your tobacco user premium, will be waived and you'll receive a refund for that plan year, 6. If you, complete the program and have not used tobacco products, five or more times within the last three consecutive months you. Can recertify, yourself, as a non tobacco, user. Unless. You stop using tobacco and. Certify, that you are a non tobacco user the, tobacco user premium, will be reinstated, at the beginning of a new plan year and you'll need to complete the program each new plan year to have a tobacco, user premium. Wait. There. Are now two online, weight, management programs. With healthful esta Texas real, appeal and naturally, slim if you're. Enrolled in one of the Health Select plans and ministered by Blue, Cross and Blue Shield of Texas both.
Programs, Are offered at no cost to you, recovered. Spouse's as defined, by law and dependents. 18, or over with a BMI, of 23. And higher. Subject. To eligibility. Only. One program can be chosen at a time. Naturally. Slim clinicians, and coaches, teach people how to lose weight and improve their health by thinking about how and when they eat rather, than what they eat, participants. Learned how to enjoy the foods they loved and still is weight. Real. Appeal coaches help people lose weight and achieve better health and lifetime, wellness it, features, online group classes, nutritious, and fitness guides and apps, for tracking diet and exercise, for. Specific, questions about benefits, call a Blue Cross and Blue Shield of Texas personal, health assistant, at 800. To, 5 to 8. Zero three nine if. You're involved in a different plan we recommend that you review that plans website or call their customer service department, to find out more about any available, weight management program. There's. Also a fitness program available. To healthful s participants, and their covered dependents, age 18 and older, once. Enrolled you, can access more than 9,000, fitness centers across the country if. He is $25. Per month with, a $25. Enrollment, fee there, are no contracts, and members can cancel at any time we. Recommend that you check your plans, website for more information about available, fitness programs. Now. That we've covered the health plan benefits let's. Review the optional, add-on, benefits. There. Are three dental plans available, state. Of Texas dental choice plan Humana. This will see hmm, for, a state, of Texas dental discount plan. Each. Dental plan works differently. The. First two dental plans will discuss our dental insurance, plans Humana, administers. Both the state of Texas dental choice plan and Humana. Dental, th ml the. State of Texas dental choice plan is a preferred provider organization. Or PPO, dental, insurance plan. You're. Not required to designate a primary care, dentist or, PCD, and you. Can see any dentists that came from GP of dental plans. The. Amount of the deductible copay. And coinsurance varies. Depending, on whether you use an in-network or, out-of-network dentist. You. Can find copay, and coinsurance information. On the plan website. There's. A maximum calendar, your benefit of $2000. For basic, and major services which. Includes routine, extractions. Once. The maximum calendar, your benefit is met the plan pays 40%. Of allowable, in-network, dental, services. Diagnostic. And preventive services, don't count towards the calendar year maximum. There. Is a $2,000. Lifetime, maximum benefit towards ordenanza for children and adults this. Plan is available outside of Texas so if you have a dependent, living out of state you want to consider enrolling in this plant. Humana. Dental. HMO is, a dental health maintenance organization. Ordy HMO, insurance, plan it, requires selecting, and designating. APCD, from, a list of approved providers, if. You access services, from a dentist who is not on the list of approved provider and it's not designated, as your PCP, the, plan will not cover the cost, there's. No deductible, with this there. Are specific co-pays, and the cost varies depending, on the type of service provided, there. Is no calendar your maximum, or claim you. Can find a schedule of benefits with. Copay amount on the plan website.
The. D HMO is not available, outside of Texas before. You enroll make sure you have located a dentist and the V HMO Network near, your home or employment, if you. Enroll and are not able to find a suitable local, dentist you can't change dental plan unless. You have a few OE or during summer enrollment. The. State of Texas dental discount plan, administered, by Carrington, provides. Discounted. Prices, on the usual, charges, for dental treatment and, services. At participating, providers. It's. Different. From dental insurance, plans. There. Are no claims co-pays. Deductibles or. Annual, maximum. Participants. Can save. To 60% on, those dental services, including. Routine. Oral exams unlimited, cleanings and major, works such as root canal crowns, orthodontics, for children and adults and even, some cosmetic, dentistry. Since. Even savings, on cosmetic, services like teeth whitening. Just. Like Humana dental D HMO you must use a participating. Dentist in order to save so, you may want to research available, dentists, in the area you live or work before, enrolling. Please. Note you can only enroll in, one of, the three dental plan options, if, you enroll dependents, they must be in the same plan as you, ers. Offers, the state of Texas Vision, Plan it's, administered, by superior vision, services. Eight just. Like dental you must enroll before enrolling, eligible, dependents. There's. A lower cost for your routine eye exam compared, to the health selective Texas and some, of the other health plans will. Save more if you use an in-network provider. For. Example if, you use an in-network provider, you'll, pay the fifteen dollar copay, for, your routine eye exam compared. To the $40, copay I'll select the Texas participant for pay under medical. There. Is one hundred and fifty dollar retail allowance, per year towards France or contacts, but not both co-pays. Vary depending on type of lenses and extra add-on viewer but, you. Can use your benefits once, per plan year. This. Insurance, plan doesn't cover diseases. Of or injury to the eye however. The GBP, health plan options currently. Provide coverage, provision, medical services, such as glaucoma or, cataracts. The. Plan has a large network of providers available. In all 50 states, some. Of the retailer's includes, LensCrafters, Pearl, Vision target. Optical seers obstacle, in the works, Walmart. Vision Center Sam's, Club obstacle, and Costco, obstacle. You. Can enroll in life insurance for yourself and, or your dependents. Optional. Term life insurance dependent. Term life insurance and. Vaughn. Accidental. Death and dismemberment are, available. First. Let's look at option alike insurance, how. Do we discussed previously full-time. Employees, enrolled in health coverage receive, the $5,000, basic, group term life insurance included. At no additional cost. So. What if you need more, you. Can purchase additional life, insurance coverage by enrolling and optional term life insurance only. Employees, can enroll in this coverage. Premium. Amounts vary based, on age salary, and the level of coverage you purchase. There. Are four coverage levels available election. One election, to election, 3 or election, 4 this. Is equal, to one two three or four times your annual salary if you, weren't able to enroll, in optional term life elections. One or two during your first 31 days of employment or. You. Want to increase coverage. To. Election, three or four, which. Is available for, coverage up to four and a thousand dollars you, can do so during, summer enrollment, or if. You have a qle, but, it does require Eloi. Eloi. Must be initiated, online, by, logging into your ers, online account, or. By contacting ers, directly, you. Can choose to receive instructions. On completing the, EOI application. By mail or, email if approved. The coverage will begin the first of the month following the approval. Each. Election provides, an equal amount of AD&D. Or double, indemnity, this, means the coverage doubles, up to $400,000. If your death is ruled accidental by, a judge. Next. Let's look at defendant term life insurance you, have the option to enroll eligible dependents. Independent, term life insurance all.
Eligible. Dependents, are covered under one premium the. Premium, is a dollar thirty eight per month regardless, of how many dependents, you enroll each. Dependent, is covered for $5,000. The, coverage doubles up to $10,000. If an enrolled, hence death is ruled an accidental death by a judge. Eli. Isn't required if you enroll eligible dependents. Within 31 days of gaining a new dependent, through qle such as birth adoption, or marriage otherwise. GOI, will, be required, lastly. Let's look at voluntary. AD&D. Voluntary. Ad. Is additional, life insurance that only pays out in the event of accidental injuries. Or death, you. Can enroll yourself or include family. Premium. Amounts vary based, on the amount of coverage enrolled, coverage. Is available in $5,000. Increments starting, at $10,000, up to $200,000. GOI. Is not required at any time, important. Things to understand, about voluntary. A B and D if. You die because of an accidental death your beneficiaries. Receive the full amount if. An, eligible, family member dies in an accident you'll. Receive a percentage, of a coverage amount for example. If, you enroll in $200,000. Of you plus family coverage herself. Is covered at 50%, of a coverage amount which is a hundred thousand children are. Covered at ten. Percent if there. Is no spouse in the household and five. Percent if there is a spouse in the household. If. There's an accident and you suffer any covered injury you'll, receive a percentage, of a coverage amount for, example. If you enroll in a hundred thousand dollars and you lose a covered limb you'll receive, $50,000. If, an. Eligible family member, suffers any covered, injury, you'll, receive a percentage of the coverage amount for example. If you enroll in a hundred thousand dollars of you plus family coverage of spouse is covered up to twenty five thousand. There. Is no double indemnity with, this plan. Did. You know that according to the Texas State Government effectiveness, and efficiency, report almost, 1/3 of US workers become, disabled, for at least three months in their lifetime, many. US workers don't have enough savings to cover three months of living expenses, it's. Important, to be prepared for these unforeseen, circumstances. If you haven't already consider, the option of enrolling in disability, insurance, through the Texas income protection plan or tip there. Are two plans available through tip, short-term. Disability, and long-term, disability, short. Term disability features. Include, 30-day. Waiting period. Covers. Up to 66% of your monthly salary capped. At six thousand six hundred. Per.
Month For individuals, making more than ten thousand dollars monthly, up. To five months. Long. Term disability. 180. Day waiting period. Covers. Up to sixty percent of your monthly salary capped, at $6,000. Per, individuals. Making, more than ten thousand dollars monthly for. A period ranging from twelve months to full Social Security retirement age, depending. On how old you are at the time of disability. You. Must use all available sick, leave including extended. Sick leave sick leave pool and or donated, sick leave or complete, the waiting period whichever, is longer before, the benefit will be paid. Premium. Amounts vary based, on age salary, and the level of coverage you purchase, this. Coverage isn't available to, family members. If. You do not enroll during your first 31 days of employment you will need a li approval, before you can be enrolled. Please. Note pre-existing. Conditions are subject, to certain conclusions there's. A six month pre-existing. Clause if you've. Gone to the doctor or you're receiving treatment, for medical, condition during the three-month period prior to the date the coverage begins. Disability. Benefits, for that specific, condition will not be covered for the first six months of enrollment. Most. People will have health care or dependent, care expenses through. The year and if you haven't enrolled and like saving money you. May want to consider the ssa is available. Through text flood tech. Flex administered, by will age works is a tax, savings, program, regulated, by the IRS, and available. To active employees, it. Lets participants. Set aside pre-tax money from their paycheck to use eligible, out-of-pocket expenses. As a. Reminder there are three types of FSA's, one. Health care FSA two, limited, FSA, and three, dependent, care FSA's, how. Do they work one. Determine. Which ssa fits your needs and total, expenses, for the year to. Divide. Total expenses, by the number of paychecks, you receive three. Have that amount taken out of each paycheck by enrolling in the FSA, that fits your needs. The. Amount taken out of your paycheck will be pre-tax, and placed in a savings account for you to use towards eligible, expenses. Well. We won't go over the details of these plans in this presentation, you, can find detailed information, on the textbooks website we. Do want to remind you that if you've enrolled in the FSA's, you, have the elected, amount taken out of your paycheck each month pre-tax, and placed in a savings account, therefore.
You Should remember to incur your eligible. Expenses, by the due date and submit, your claims by December, 31st. Also. Remember to submit any requested, receipts and contact, wage works if you have any question. Texas. Favor is the state's preferred. Compensation. Program designed, to help state, employees, save for retirement there. Are two plans available, in this program. 401k. And or. 457. Financial. Advisors suggest the average person, needs 80 percent of their pre-retirement, income to. Maintain their current lifestyle. After. A retirement. To. Help you better understand, retirement, finances, think of your retirement as a three-legged, stool one. Leg is your monthly retirement payment your ers annuity, the, second leg is your social security administration or, SSA, benefits, and the, third leg is their personal savings account, like a 401k, 457. Or other sadie's if you, remove one leg that the school is less sturdy it's, important, principle, with regards to retirement, savings be sure to plan for financial stability in, retirement. Because. It's so important to save for retirement and, your ers retirement, may only supply fifty, percent of your current salary in retirement no, employees are automatically, enroll, at 1% of their salary in the 401 plan. Because. It's so important to say for a retirement and your ers retirement, may only supply 50%, of your current salary and retirement, new, employees, are automatically. Enrolled at 1%, of their salary in the 401k plan. Whether. You enroll in the 401k and/or, the 457, your pre-tax contributions are. Set aside in a savings account you. Have control over how much you would like to contribute how, much you want to save and you can decide how to invest your funds you. Can enroll increase. Decrease in stock participation. At any time, you. Can transfer money from a qualified, retirement account, from a previous employer to maximize, your savings with, Texas, favor please. Note program, availability, may differ for some higher education, institutions. To make. Changes to contribution, amounts or discuss options there are several texas favor presentations. Available through, the texas paper website, or contact empower. Directly. At, 860. 3 4 5 0 9, 1 a big. Part of your employee benefits, package is your ers retirement. First. Let's discuss who, is eligible to participate in, the ers retirement, plan current. Or previous state, of Texas employees, working for an agency that participates in, the ers retirement, plan may. Be eligible for ers retirement, benefits once, certain. Criteria, is met. Once. A certain criteria is, met, data. Texas employees, working for a state agency or higher education, institution. That, only participates. In the GBP, but, not the ers retirement, plan are, typically, not eligible, for. Ers. Retirement. For. The GBP, only participating. Agencies, CRS. Manages, most, of the benefits, including, health dental, life vision, disabilities. And, while spending accounts however. Ers, doesn't, manage. Their retirement, contributions, eligibility. And annuity, no.
Retirement For these employees are managed, by different state of Texas retirement, plans such. As Teachers, Retirement System. Of Texas or, TRS. This. Includes employees, of higher. Education, institutions, except. University. Of Texas, and Texas A&M University. System. Community. Supervision and, corrections departments, or CSC, D, TRS. Texas. Municipal retirement, system. Or TMR, s texas, county and district retirement system or TC DRS and windham. School district g. Vp only participants, will want to contact their retirement, system for more information, about their contributions. And eligibility. Please. Note this slide is only applicable to employees, participate. In the ers retirement, plan. The. 9.5, pre-tax. Contribution. Is set by texas legislature. Contribution. Is mandatory and cannot be changed or waived, this. Amount is taken monthly, from your pre-tax earning and deposited. Into your ers, retirement, accounts at the, same time the state contributes 9.5. Percent and, the agency, contributes, 0.5%. This. Amount is deposited, into the ers retirement, trust fund every. Month you contribute, you get one month of service credit this, includes, earned and purchase, service credit, the. Amount of service credit and age determines, when, you'll be eligible to retire if. Certain. Criteria are, met you may be eligible to retire with the lifetime, annuity and eligible. For GBP, retiree, insurance benefits. You. Can't take out loans against, your ers retirement, account if you. Leave state employment you can request a refund of your retirement contributions, does. Not include the state and agency, contributions. Any. Amount, paid out directly to, you, this text, and depending, on your age there might be an additional, penalty when, you file your taxes. The following year if. You, withdraw your contributions. You'll lose the earn service credit this. Means you will be eligible, to retire and once you start working, and contributing to the ers retirement, plan again. Another. Way to increase, your service credit is by purchasing, service, purchasing. Service increases your months of service and annuity, and it may help you retire sooner, there. Are four types of service purchases.
If. You left state employment and withdrew, your retirement, account you now have withdrawn, service credit to, qualify to purchase the service you must do the following, return. To state employment and/or. Have a minimum, of one contribution, in your account or, participate. In a, proportionate, retirement program if. You. Are active duty military you. Can purchase up to five years of military service credit, to, qualify to purchase the service credit you must be. Working and make, at least one contribution, to your ers retirement, account, send. A copy of your dd-214, or, MGB, 23, to, our s to determine, eligibility. Not. Be eligible, for military retirement. With, 20 or more years of service and be. Honorably, discharged. If. You were a new employee between, September, 1st 2003, and August. 31st 2015. You. Had a 90-day, waiting period before, you. Made your first retirement, contribution. To. Qualify to purchase of service you must have a minimum of one contribution, in your account. Or. Participates. In a proportionate, retirement, program and contact. Ers to certify the waiting period. If. You're. Actively contributing, and have, at least 10 years of actual service, credit you can purchase up to three years of additional service credit or, AFC, you. Must purchase all other, available, service before you can request to purchase asd for. More information, on, how. To purchase service see the ers website. This. Site is only applicable, to certified, peace officer, and custodial, officer, CP. O co, employees. Participating. In the, league retirement. Funds. The. Law-enforcement and, custodial, officer, supplemental, retirement funds, or aliquots. RF is a. Supplemental. Retirement program, created, by the Texas, Legislature, to reward certified, peace officer, GPO. Kazillion, officers, co employees, with 20 or more years of hazardous, duty service. The. Men and women who service the state of Texas any physically, demanding and hazardous, jobs may, be eligible to retire at a younger age, in addition, CP, o co employees, contributed, more to the plans and regular State Employees they. Contribute, an extra point 5 percent to ensure a higher annuity, with, 20 or more years of CP o Co service. The. Five state of Texas agencies, with CP o co employees, are Texas. Alcoholic Beverage, Commission. Texas. Department of Criminal Justice, Texas. Department of Public Safety, Texas. Juvenile Justice Department. And Texas. Parks and Wildlife Department you. May be interested, in learning more about your retirement did you know that there are several ways to get more information about, your retirement eligibility. Are. You are hands-on or do you prefer to talk to someone over the phone or in person if. You prefer to do your own research the, ers website, and ers online, promotes, self service and provides you with the tools you need to understand, your retirement such, as eligibility, rules, annuity. Options, planning, a retirement, booklet benefits. And retirement retirement. Estimator, available. By logging into your ers account and frequently, asked questions about retirement. You. Can also attend, a Ready Set retire seminar, our webinar, hosted, by ers, these, sessions allow you to learn about your retirement benefits, and give you an opportunity to ask general retirement, questions visit. The ers website and click on the events calendar to, find an upcoming session. If. You have for a small and/or detailed questions and prefer to speak with a retirement counselor, over the phone they. Are available toll-free at, eight seven seven two seven five four three seven. Seven Monday. Through Friday 7:30, a.m., to, 5:30 p.m., Central, Time you. Can always meet with a retirement counselor, and. For someone in person by scheduling an appointment you. Can schedule an appointment by, phone or on the ers website to. Schedule an appointment through, the ers website go. To the ers homepage, click. On the active employees, link click, on the retirement contributions, and planning link and then. Lastly click on the apply for retirement link, you. Can find scheduling, an appointment at, ers offices, under step 2 before. We wrap up speaking, about retirement it's important, to remember to make sure your beneficiaries. Are up to date for. Aerith employees, you, can update your ers, retirement, and life insurance beneficiaries. By logging, into your era online.
Account. For. Non-contributing, employees, you can only update your life insurance beneficiaries. Through your era online, account to, update. Your beneficiaries. Log into ers online click, on my beneficiary, summary to, review your current beneficiaries. Create. A profile, for any new beneficiaries, you're adding, by clicking the change information or, add new beneficiaries. Button click. Add new beneficiary. Enter. Their legal name social security number, date, of birth and mailing address click, Save remember. You can choose more than one beneficiary. Once. The beneficiary changes, our process, one more step is required the. Form is generated an email to you if an email addresses on files otherwise, its mailed you. Need to sign the form along with a non related witness, and send the form back to ers before, the change is finalized. The. System will show form pending, and toll ers, received, and processed the, form once. Updated, you'll receive a confirmation email, or by mail if no email addresses on file. Did. You know for ers contributing, state agency, employees. If. You, have 10 or more years of service you can choose a death benefit plan this. Gives you the option to select the form of payment the designated, beneficiary, for, your ers retirement, account will receive, should. You pass away before retirement. The. Options our time. Annuity the, payments are spread out over your beneficiary's, lifetime, 10. Years Gary Teta annuity the payments are paid monthly for ten years lump. Sum the. Beneficiary, will receive the entire amount upfront and, a lump sum for. A beneficiary's. Choice the beneficiary, will receive the choice of which option they would like to receive. If. You are enrolled in Texas favor you will also need to designate a beneficiary, for, your 401k. And or 457, to. Designate, or change your beneficiary, there's, a form you can download from, their website this. Form will need to be turned in to empower, retirement, to make the beneficiary, official, be. Sure to update your beneficiaries, as needed, when. You have a major life event for example. If, you get married have a child or get divorced, make sure you up. Beneficiaries. With ers and Texas saver contact, informations. The. Last benefit we want to talk with you about today is a discount, purchase program this, program allows, you to shop online and, buy products, and services, such as computers, appliances, vacation, packages, and more at discounted, prices it's. As easy as one two three. One. Visit. WWF. Comp program, ers. Comm to. Click. The active employee button. 3. Then, either click on a menu option a discount, advertisement, or use the search feature once. You find the product or service you wish to purchase look. For the instructions, on how to save. Some. Vendors may require in-store, purchase, using your state employee badge others. May require an, online, purchase using, a specific discount code you. Can save on professional, ball game tickets movie tickets theater, tickets cruises, and vacation, packages, household. Appliances, car purchases, and repairs computer. And other technology, equipment and much more there. Is no enrollment period or membership, fee it is, available to you and anyone in your household just start shopping and safe. Before. We wrap up today's presentation, we want to remind you of some important, resources that you have available. Your, agency's benefits, coordinator. If. You, work for an HHS, agency. You'll contact the HHS, employees service. Center at eight. Eight eight eight nine four, four seven four seven Health.
And Human Services employees. Of dads DSPs. GSHS. HHS. C4c, prit. You. Can also contact ers, toll-free at eight seven seven two, seven five four three seven, seven we're. Open Monday through Friday 7:30, a.m. to 5:30 p.m., you. Can go to the ers website. WWE. RS, Texas. Gov and. Check. Out our Facebook page and YouTube channels, for information, on your benefits. We. Encourage you to visit the ers website, at. ERF texas.gov. To. Learn more about your benefits you. Can log into your IRS online, account to see your current coverage and designate, your beneficiaries. From the eros website click. On the active employees tab. Click. On the active employees tab at the top of the screen. Click. On the active employees tab at the top of the web page, next. Click on the type of benefit, you want to learn about in this, example we'll, click on, optional. Add-on benefits, to learn more about the life insurance benefit, this is the life insurance page that provides general, information on, the life insurance benefits the, benefits administrator. For this plan is to karien the. Karahan has a website dedicated, to, the ers life insurance benefit some, provides, you with access to, the plan booklets brochures, forms, presentations. And more at. The bottom of the ers website, we have a link to subscribe, to the monthly employee, newsletter, have. You signed up for news about your benefits we encourage you to subscribe, and keep up to date with plan and program changes helpful. While this tips and more you. Can subscribe by going to the bottom of the ers website and clicking on the subscribe to topic alerts link from there click on the link for news for state agency, employees and, enter your information from. The ers website, you can also navigate to, our social media pages you, can visit our youtube channel and watch helpful, videos about benefits, including. One that gives you more information on, the difference between the various types of health plans you, can also access our Facebook page where we post helpful, wellness, tips from our third-party, administrators. There. Are many ways to access your benefits information. We, hope that you will like us on Facebook and check out our video series. That. Concludes, the 2018, beyond, enrollment, presentation, thank, you for joining us today.