Life insurance coverage is designed to help provide financial support and stability to an an employee’s family should they pass away. Included in the life insurance plan is Accidental Death and Dismemberment (AD&D) insurance, which provides an extra layer of protection in the event of a covered death or dismemberment as a result of an accident.
Regular full-time employees are automatically enrolled in Group Basic Life and AD&D insurance through The Standard. This benefit is provided at no cost to the employee. Employee’s can also elect for optional life insurance for themselves and their eligible dependents. Employees chooses how much to purchase and pay the full cost of this coverage through payroll deductions.
Benefit Details
| Basic Life Coverage Amount | 1 times your annual salary to a maximum of $50,000 |
| Basic AD&D Coverage Amount | For covered accidentenal loss of life, your Basic AD&D coverage amount is equal to your Basic Life Coverage amount. For other covered losses, a percentage of this benefit will be payable. |
Optional Life Insurance
Coverage Options
Employees may request optional life insurance in the increments below up to the maximum amount. The amount over the guaranteed issue amount is subject to evidence of insurability (EOI) and is effective upon approval by The Standard. Employees may apply for coverage in the following amounts:
| Employee | $10,000 increments up to $500,000 | ||
| Spouse | $5,000 increments up to $350,000 | ||
| Dependent Children | $2,000 increments up to $10,000 | ||
Guaranteed Issue
Employees may enroll for a certain amount of insurance without answering health questions. Guaranteed issue amounts are as follows for coverage applied for within 31 days of employment or during a designed open enrollment period:
| Employee | Up to $150,000 |
| Spouse | Up to $50,000 |
Optional Life Rates (monthly)
| Age Band | Employee (per $1,000) |
Spouse (per $1,000) |
Child (per $1,000) 1 |
| <24 | 0.048 | 0.050 | 0.170 |
| 25-29 | 0.055 | 0.058 | |
| 30-34 | 0.067/ | 0.074 | |
| 35-39 | 0.090 | 0.100 | |
| 40-44 | 0.137 | 0.152 | |
| 45-49 | 0.219 | 0.238 | |
| 50-54 | 0.348 | 0.372 | |
| 55-59 | 0.535 | 0.570 | |
| 60-64 | 0.836 | 0.974 | |
| 65-69 | 1.451 | 1.666 | |
| 70-74 | 2.588 | 2.968 | |
| 75+ | 4.500 | 4.500 |
1 The premium paid for child coverage is based on the cost of coverage for one child, regardless of how many children you have.
Retiree Death Benefit
Beneficiaries of employees who retire after January 1, 2003 will receive a $7,500 death benefit.
Related Documents
Basic Life/AD&D Summary
Optional Life Summary
Related Forms
The Standard Enrollment Form
Beneficiary Designation
Medical History Statement
Conversion Packet (Retirement)
Portability Application
Related Policies
Flexible Spending Accounts
Flexible Spending Accounts (FSA) are Internal Revenue Service (IRS) sanctioned benefits that provide employees with the opportunity to set aside pre-tax dollars for reimbursement of IRS approved health and dependent care expenses. When enrolling, employees determine how much money they want to contribute to each account for the plan year and the funds are then payroll deducted in equal installments throughout. Employees do not have to be enrolled in a WCRC medical plan to participate in an FSA.
Regular full-time employee can enroll in an FSA during open enrollment. New employees can enroll within thirty (30) days from their date of hire or during open enrollment.
Medical FSA
A Medical FSA allows employees to use pre-tax dollars for eligible medical expenses not covered by medical and dental plans (i.e., copays, deductibles, orthodontia, etc.), vision care expenses for prescription eyeglasses and contact lenses, as well as prescription medication.
Employees can contribute up to $3,050 annually to a Medical FSA. The minimum contribution is $240 annually. Medical FSAs are pre-funded, allowing employees access to their annual elections on the first day of participation. Employees can carry over up to $610 of unused FSA funds remaining at the end the plan over to the next year. Anything over $500 will be forfeited. Additionally, changes can be made if the enrolled employee experiences an approved IRA qualifying event.
Dependent Care FSA
A Dependent Care FSA allows an employee to set aside pre-tax dollars to pay for eligible dependent care expenses for their qualified dependents. Eligible dependent care expenses are those incurred to work, look for work or attend school as a full-time student. Examples of eligible expenses may include child care facility fees, before-school and after-school care or local day camp.
Employees can contribute up to $5,000 annually, per family, to a Dependent Care FSA. Unlike the medical FSA, the annual dependent care FSA funds are not available upfront. Funds are only accessible as they are deposited with each payroll deduction. Dependent Care FSA funds do not roll over year after year. You must use your Dependent Care dollars within the plan year or they will be forfeited.
Using FSA Funds
When a qualified expense is incurred, you can use one of the following methods:
- Debit card transactions – Use the HealthEquity FSA debit card at the pharmacy or doctor’s office for instant payment.
- Reimbursement – If paying out-of-pocket for expenses submit a claim for reimbursement directly on the member portal and have funds electronically transferred to a personal bank account.
- Issue payment to provider – From the HealthEquity member portal, employees can issue payments to providers by creating a new claim, or by using existing integrated insurance claims if available.
Helpful Links
HealthEquity
Qualified Medical Expenses
Related Documents
FSA Summary Plan Description
FSA Member Guide
Member Portal Instructions
Related Forms
Orthodontia Reimbursement Form
FSA Reimbursement Form
DCRA Reimbursement Form
Health Care Savings Program
The Health Care Savings Program (HCSP) is designed to help employees prepare for the costs of health care after leaving employment with the WCRC, with an invested account that they manage. It’s an employer-sponsored program that provides a tax-free medical savings account for covering costs of post-employment medical expenses for the employee and their eligible dependents.
Employees hired after 01/01/2012 will automatically be enrolled in the HCSP administered by Municipal Employee’s Retirement System (MERS). Currently, this program is only available to employees hired before 01/01/2012.
Contributions
Employees are required to contribute 2% of their gross wages and WCRC will match the 2%.
MERS Investments
The MERS HCSP is an investment account, meaning the employee takes an active role in determining their financial goals, making investments and monitoring their portfolio. The employee determines which investment menu works best for their needs. Employees can also make changes to their investments at any time by creating an account with myMERS.
Using HCSP Funds
Once an employee has met the vesting requirement of eight (8) years and has separated from employment with the WCRC they can begin using their MERS HCSP account.
Other
Below are some additional financial benefits offered to employees.
Tuition Reimbursement
WCRC is committed to the development of employees and the belief that education is a lifelong process which enhances work performance and increases career mobility with the organization, thereby helping employees provide better service to the public.
Non-Union employees can refer to the Tuition Reimbursement (HR-06) policy for additional information. Union employees should refer to their respective Collective Bargaining Agreement.
Protective Footwear Reimbursement
Employees that are required to wear protective footwear for their job will be entitled to a protective footwear reimbursement allowance of up to $200 each calendar year.
Non-Union employees can refer to the Protective Footwear Reimbursement Policy for additional information. Union employees should refer to their respective Collective Bargaining Agreement.
Tool Reimbursement
Employees that are required to provide their own tools as part of their job requirement (Shop Group Leader and Mechanics) will be entitled to a tool allowance of $1,000 per year.
Refer to the TPOAM Collective Bargaining Agreement for additional information.
Fitness Reimbursement
WCRC cares about the health of its employees. To help employees maintain a healthy lifestyle, WCRC provides a gym reimbursement program. Regular full-time employees will be reimbursed 50% up to a maximum of $450 per calendar year.
Refer to the Fitness Reimbursement policy for additional information.
