FlexSelect Benefit Dollars and Price Tags
Eligible employees are given "Benefit Dollars," which are used to purchase FlexSelect Benefits. Each FlexSelect option has an associated Price Tag. The Price Tag generally represents the full per pay period cost of that benefit. With FlexSelect, the pay is redirected to benefits before taxes are calculated (except for Dependent Life premiums, which are after-tax.) The additional dollars you put into the program - called pre-tax contributions - are not taxed. In effect, you are shifting part of your taxable pay to nontaxable benefits. Your total compensation stays the same, but you end up with a smaller tax bill - a major advantage to you.
FlexSelect Medical Benefits
Preventative Services are covered at 100% of usual and customary charges include:
• Yearly adult physicals paid at maximum of $300.00 to $400.00 per year, depending on age.
• Well-baby physicals paid at an annual maximum of $250.00 through the age of 3.
• School physicals paid at an annual maximum of $100.00 for children between the ages of 4 & 17.
• Mammograms paid yearly for women 40 and older.
• Routine eye exams paid yearly.
• Lactation benefit of $150.00 lifetime for counseling, follow up or supplies.
• Nutrition counseling paid at $125.00 per year.
• Smoking cessation benefit of $250.00 lifetime maximum for smoke-ending counseling, classes, patches or medications prescribed by a physician.
• Routine hearing exams paid at a maximum of $250.00 once every three years.
Other medical services and supplies are covered at 80% of usual and customary charges so long as they are medically necessary for the treatment of a covered illness or injury and are rendered by an approved practitioner. The treatment must be generally accepted by medical professionals in the United States and considered to be non-experimental/investigational. A full Summary of Benefits is provided to each employee upon hire.
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