Here's Your Benefits Options For

This Open Enrollment Season...

Hi Bala,

Open enrollment begins in just a few short hours and will end Monday, December 19th. This email contains important information about our benefits which will help you make your decisions.

You will receive one more announcement with instructions once the enrollment portal is open. In the meantime, please review our offerings and let us know if you have questions by replying to this email!

Summary of Benefits and Coverage

We offer a complete and comprehensive Preferred Provider Organization (PPO) and High Deductible Health Plan (HDHP) through Anthem Blue Cross Blue Shield (BCBS).

To access the highest level of coverage, use in-network providers whenever possible.
The Anthem network is one of the largest in the area.
Out-of-network coverage is available but will be covered at a lower rate and members are responsible for a separate out-of-network deductible.
Both plans provide preventive care at no cost for covered members! We encourage members to take advantage of these no-cost preventive services and prescriptions whenever possible.
Prescription coverage is included as part of the medical plan.
For non-preventive care or pharmacy, members must first meet a deductible before the Plan pays its portion.
After the deductible and prescription co-pays reach the out-of-pocket limit all costs are covered 100%.

We offer dental coverage through Anthem Dental Blue.

You may see any dental provider you wish but will have the highest level of coverage when you use an in-network provider.
The Dental plan offers a wide network of providers and offers coverage for routine preventive visits, basic and major services.

We also offer vision coverage through

Anthem Blue View Vision.

The vision exam will continue to be a preventive service under the Anthem medical plan.
The Blue View Vision plan includes coverage for eyeglasses and contacts, as well as discounts on various lens enhancements.

HSA FSA

Enrollment in a qualified HDHP allows members to contribute to a tax-advantaged Health Savings Account (HSA). The HSA is a bank account in your name to which you can deposit funds on a tax-free basis.

You can use the funds in your HSA to help pay your medical deductible and prescription co-pays, plus other eligible medical, dental, and vision expenses.
Any funds in the account that you do not spend will roll over into the next year and remain available to you. The HSA is your bank account and should you leave Coolsoft you may take the account with you for use on future qualified healthcare expenses.
Please see the complete information regarding an HSA at www.irs.gov for possible exclusions and limitations of eligibility.

Eligible employees have the opportunity to enroll in a Flexible Spending Account (FSA), Limited Flexible Spending Account (LMT), and/or Dependent Care Spending Account (DCA) through Paychex Benefits. These accounts allow you to set aside pre-tax dollars to cover qualified healthcare, vision, dental, or dependent care expenses.

Participants pay no federal or state income taxes on the money placed in an FSA, LMT, or DCA.
As you incur eligible expenses, use your FSA debit card to pay at the point of service or submit the appropriate paperwork to be reimbursed by your account.
The Health FSA has a grace period that allows you to use funds through March 15th of the following year.
The DCA does not allow for a grace period
All unused FSA funds at the end of the applicable period will be forfeited.

Basic and Supplemental Life Insurance

Voluntary/Supplemental

Life Insurance

You have the option to apply for and purchase voluntary life insurance(s), as well as increase/decrease coverage.

Voluntary life premiums are 100% employee paid through payroll deductions. Premiums are at a group rate and based on your age.
You must elect voluntary coverage on your own life in order to elect voluntary coverage on your spouse's and/or children's lives.
You may purchase up to 50% of your coverage amount for your spouse and up to 10% for your child(ren).

Additional Resources

Paychex Balance Care Member Guide	Coolsoft Section 125 Summary Plan Description	Healthcare Terms You Should Know
The Complete FSA Eligibility List	IRS Guidance on HSAs and FSAs	Anthem - Find Doctor/Drugs/Pharmacy

Health Savings vs. Flexible Spending Account: What's the Difference?

Everyone understands that healthcare is a huge chunk of their budget. One reason: prices for services and health insurance premiums rise every year. United States spending on healthcare per capita has increased more than 31-fold in the last four decades, based on an analysis from the Kaiser Family Foundation, which used data from the National Health Expenditure.