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Voluntary Benefits with American Fidelity

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Voluntary Benefit Options

Not applicable to employees of Butte College, Bangor Union, Palermo Union, and Paradise Unified

Flexible Spending Accounts 

Healthcare FSA

Healthcare FSAs allow you to set aside money tax-free for eligible medical costs, such as doctor visits, prescription drugs, prescription contact lenses, and dental procedures. Additionally, your entire election amount is available to you at the beginning of the plan year.

Healthcare FSAs operate under a “use or lose” system. That means you’ll want to use all of your funds prior to the next plan year or you will lose whatever amount is left. This plan does include the Carryover Provision which allows you to carry over up to $500 of unused contributions from one plan year to the next.

 

Dependent Care Account

A Dependent Care Account is used to reimburse yourself for eligible dependent day care expenses, such as after-school care, summer day camp, and day care. Your contribution is withheld from your paycheck before tax, which in turn reduces your overall tax burden.

Like Healthcare FSAs, Dependent Care Accounts operate under a “use or lose” system. That means you’ll want to use all of your funds prior to the next plan year or you will lose whatever amount is left.

Disability Income Insurance 

Disability income Insurance is designed to help protect your finances in case of a covered injury or illness. It provides a benefit to help cover costs while you are unable to work by paying some of your gross monthly earnings.   You will have the opportunity to apply for coverage without answering medical questions (pre-existing conditions may apply). You can select a benefit amount and elimination period that meets your financial needs Benefit payments are made directly to you to use the funds where you need them.

Critical Illness Insurance 

Limited Benefit Critical Illness pays benefit upon diagnosis of certain covered life-altering illnesses and helps with costs not covered by medical insurance. Various coverage options are available to choose from. Coverage also includes a screening benefit that pays you when you receive your annual health screenings, including stress test, echo cardiograms and more.

Cancer Insurance 

Limited Benefit Individual Cancer Insurance may help ease the financial burden of cancer treatment, including non-medical expenses like travel and lodging, so you can focus on recovery. Benefit payments are made directly to you. You can enroll yourself, or extend coverage to your family. Coverage also includes a screening benefit that pays you when you receive your annual internal cancer screening tests, including Mammograms, PAPs and Colonoscopies.

Accident Only Insurance 

Prepare for the unexpected with Limited Benefit Accident Only Insurance. Accident Only Insurance may help manage out-of-pocket costs to treat injuries resulting from a covered accident and provides benefit payments directly to you.

Hospital Indemnity Insurance 

Limited Benefit Hospital Indemnity Insurance helps pay for out-of-pocket costs, like a hospital stays. Major medical insurance plans are designed to pay a large portion of your medical costs. But with a high deductible health plan, you must pay out of your own pocket until you meet your deductible and plan maximum.

Life Insurance 

Life Insurance may help ensure your family is financially protected in the event of a loss. You own the policy, so you can take it with you to a different job or into retirement.

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