Oak Ridge Schools employees may elect to tax shelter health, dental and vision premiums (upon eligibility for benefits) as well as unreimbursed medical and dependent care expenses (during annual autumn open enrollment) through our Section 125 plan.
Our vendor, USAble Life, offers optional insurance products which may be of interest to employees.
Feel free to contact the Human Resources Office (865-425-9008) if you need additional information.
3200 West End Ave., Ste. 306
Nashville, TN 37203
Member Services: 1-800-852-3293
TASC (Claims Administrator)
2302 International Lane
Madison, WI 53704-3140
Member Services: 1-800-422-4661
Summary Plan Description
Section 125 Summary Plan
Premium conversion provides employees tax savings by reducing health, dental and vision insurance premiums from gross salary prior to calculation of federal income and Social Security taxes, as allowed under IRS regulations.
Newly eligible employees may either choose or elect to waive this opportunity at the time they choose health, dental or vision insurance. Thereafter, this election may only be changed during the annual autumn open enrollment for a following January 1st effective date unless a qualifying event change occurs. Elections are for a twelve month period which runs from January 1st through December 31st each year.
Medical Flexible Spending Accounts
Medical Flexible Spending Accounts (FSA) allows employees to pay for qualifying medical expenses on a pre-tax basis. Expenses can come from family medical deductibles, co-pays, eye care expenses, prescriptions drugs and family dental expenses. Employees may exempt medical expenses for themselves, their spouse and all dependents listed on their federal tax return. The maximum dollar amount allowable under IRS regulations is $2,550 per year.
Dependent Care Reimbursement
Dependent Care Accounts allow dependent care expenses for children under age 13, a disabled spouse or a person of any age who is unable (mentally or physically) to take care of themselves and who spends at least eight hours a day in an employee’s home to be deducted from their pay check. The maximum dollar amount allowable under IRS regulations is $5,000 ($2,500 if married and filing separately) per plan year.
During the annual autumn open enrollment period all current employees must either elect or decline plan participation for the following twelve month period which runs from January 1st through December 31st each year. Elections cannot be altered unless a qualifying event change (i.e. death, marriage, birth, employment change, etc.) occurs.
Our vendor, USAble Life, offers the following optional products which may be elected during the annual autumn open enrollment:
Accident Elite: Accident Elite is designed to provide supplemental coverage for costs associated with covered accidental injury and death and allows you the option of tailoring coverage to fit your personal needs. You may also add your choice of optional disability riders: Accident Disability Rider (off-the-job only); 24-Hour Accident Disability Rider, and a Sickness Disability Rider. The policy is guaranteed renewable and available through the ease of payroll deduction. All benefits are limited per covered accident (or covered sickness on the Sickness Disability Rider) and are paid directly to you. Premiums for this coverage are tax-sheltered.
CancerCare Elite: CancerCare Elite provides supplemental coverage when certain losses occur as the result of cancer or a covered specified disease and is available to you and your eligible family members with a choice of three plans. Benefits are paid directly to you regardless of other insurance coverage. Premiums for this coverage are tax-sheltered.
CriticalCare Elite: CriticalCare Elite provides a lump sum payment upon first diagnosis of a covered critical illness. Covered critical illnesses include: carcinoma-in-situ; heart attack; stroke; end state renal disease; major organ transplant surgery; quadriplegia; coronary artery bypass surgery; balloon angioplasty; stent or laser relief obstruction procedures, or cancer (may be purchased with or without). Benefits are paid directly to you regardless of other insurance coverage. Premiums for this coverage are tax-sheltered.
Educator’s Long Term Disability (LTD): USAble Life’s Long Term Disability (LTD) plan is designed especially for our valued educator customers to provide income protection should you become disabled as the result of a covered sickness, including pregnancy, or injury.
Term Life: Term insurance is the least expensive form of life insurance coverage you can purchase. It provides life insurance for a stated time period, or term and is guaranteed renewable for subsequent term periods.
This benefit summary provides a very brief description of USAble Life’s insurance products. This is not an insurance policy and only the actual provisions of an issued policy control. USAble Life’s policies set forth the rights and obligations of covered persons and USAble Life. Please be aware that certain limitations and exclusions may apply, and certain coverage may reduce or terminate due to age or lack of eligibility. If you enroll and are approved for coverage, you wil be furnished with a policy or certificate of insurance.