What are your Qualified Benefits?

Spending Accounts:

Medical Reimbursement - Allows you to pre-tax out-of-pocket medical expenses not covered by insurance plans.
Medical Reimbursement Maximum - $2,000/year

Dependent Care Reimbursement - Allows you to pre-tax expenses for dependent care.
Dependent Care Reimbursement Maximum - $5,000/year

You will need to re-sign for the Spending Accounts if you want them to continue next year. IF YOU DO NOT RE-SIGN, YOUR CONTRIBUTION WILL STOP EFFECTIVE October 31, 2008

• Colonial Insurance Programs
  • Pre-Tax:
    • Cancer 1000
    • Intensive Care
    • Medical Bridge 3000
  • Post-Tax:
    • Disability - Educator Income Plan
    • Universal Life
    • Critical Illness
    • Accident Care
• Group Term Life: Aetna(post-tax)

All insurance products will remain in effect unless you see a representative to change them.

Important Facts:

• The plan year for Colonial Insurance products and Spending Accounts lasts from November 1, 2008 through October 31, 2009. The plan year for Aetna Term Life lasts from November 1, 2008 through October 31, 2009.


• Deductions for Colonial Insurance products and Spending Accounts will begin November 2008. Deductions for Aetna Term Life will begin October 2008.


• There will be one $2.00 pre-tax fee per month for all participants in the Flexible Spending Accounts.


• If signing up for any coverage on your spouse and/or children, please have their dates of birth and social security numbers available when meeting with the Flexible Benefits Plan Representative.


• Elections made during this enrollment period CANNOT BE CHANGED AFTER THE ENROLLMENT PERIOD unless there is a family status change as defined by the Internal Revenue Code. Examples of a family status change are: marriage, divorce, death of a spouse or child, birth or adoption of a child, termination or commencement of a spouse's employment, or the transition of spouse's employment from full-time to part-time or vice-versa.


• Once a family status change has occurred, an employee has 30 days to notify the North Carolina Service Center at 1-888-662-7500 to request a change in elections.


• Medical Reimbursement and Dependent Care Reimbursement expenses must be incurred during the Plan Year in order to be eligible for reimbursement.


• An employee has 90 days after the plan year ends to submit claims for medical reimbursement and/or dependent care expenses that were incurred during the plan year. Please note that if employment terminates during the plan year, that employee's plan year ends the day employment ends. The employee has 90 days after the termination date to submit claims.


• The Cancer, Critical Illness and Health Screening Rider on the Medical Bridge and Accident Care policies have a 30-day waiting period for new enrollees. Coverage, therefore, will not begin until December 1, 2008.


• An employee taking a leave of absence, other than under the Family & Medical Leave Act, may not be eligible to re-enter the Flexible Benefits Program until the next plan year. Please contact your Carteret County Schools Benefit Administrator for more information.