AFLAC
A concern for many people - even if they
have major medical insurance - is the increasing burden of uncovered and
out-of-pocket expenses. That's where AFLAC comes in. In a matter
of days, they can provide the money you need to help with deductibles,
treatment-related travel, daily living obligations, loss of earning power -
any of life's necessities. You have the option of getting the benefit
checks directly without getting anyone's permission.
We are pleased to offer a Section 125
insurance premium conversion program to all of our employees. The
Section 125 plan refers to the section of the federal tax code that
allows employees to pay their portion of health and life insurance benefits
on a pre-tax basis. Allowing employees to take their insurance premiums as
a deduction before taxes are calculated reduces federal, state, and
social security taxes, thereby increasing take-home pay.
AFLAC is an insurance company designated as the third party administrator
for our Section 125 plan.
In order to participate in this plan we are required by the
IRS to have a signed "Salary Redirection Agreement" on file from all
eligible employees, whether or not they have chosen to participate in any
health deductions through payroll. New employees are required to meet with
the AFLAC representatives within the first 30 days of employment to either
sign up for the benefit or waive participation.
Annually, AFLAC
representatives are scheduled in each St. Mary's County Public School
location for a one or two-day period in late September and October in order
to provide further opportunities for an individual meeting.
ALFAC also offers
supplemental insurance policies on a pre-tax basis, which employees may
select at this time. There are several insurance plans available through
payroll deduction: Cancer, Intensive Care, Hospital Indemnity,
Accident/Disability and Short-Term Disability. Employees are not obligated
to purchase any of the additional coverages offered by AFLAC. Employees
are, however, entitled to pre-tax benefits under the Section 125 plan
as it applies to them, and required to have the salary redirection agreement
on file with us.
For
more information about AFLAC visit http://www.aflac.com.
Other Benefits:
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