Worker’s Compensation --- encova.com
TIAA Retirement Plans: www.tiaa.org
Mandatory participation for Full-time employees - 401 (a) Employee contributes 6% mandatory every pay, matched 100% every pay by BridgeValley and you are vested from day 1. (Participation mandated by WV state law)
Voluntary participation: 403 (b) and 457 (b) plans are pre-tax and post-tax deductions availability, investments not matched by institution, may be eligible for loans on investment.
Consultations are free.
PEIA Basic Life Insurance: www.mybenefits.metlife.com
No cost to the employee – fully funded by employer
Life Amount: $10,000
Enroll thru PEIA – Manage by Benefits --- www.wvpeia.com
Update Beneficiaries thru www.mybenefits.metlife.com
PEIA Optional Life Insurance: www.mybenefits.metlife.com
Amount of coverage - $5,000 to $500,000
New employees are eligible for benefit up to $100,000 coverage without completing an “evidence of
insurability form”
Accelerated death benefit – terminally-ill patients with less than 12 months to life expectancy may now claim up to 100%
Price based on age and tobacco-use status
Enroll thru PEIA – Manage by Benefits --- www.wvpeia.com
Update Beneficiaries thru www.mybenefits.metlife.com
PEIA Health Insurance: www.wvpeia.gov
Coverage options: Employee, Employee & Child(ren), Family, or Family with Employee Spouse
PEIA PPB Plans:
PEIA PPB Plan A: Higher Premium, Lower Deductible
PEIA PPB Plan B: Lower Premium, Higher Deductible
PEIA PPB Plan C: IRS-Qualified High Deductible Health Plan (HDHP), Lowest premiums, High deductible that must be met before the plan begins to pay, Plan is designed to work with Health Savings Account
PEIA PPB Plan D: The “West Virginia ONLY Plan”, must be a WV resident, must use WV providers, emergency care out of state may only be covered for patient stabilization but not continuation of care, not an ideal plan for employees who have dependents out of state.
The Health Plan (HMO): www.healthplan.org
Must see PCP prior to specialty care for referral. Generic prescriptions only.
The Health Plan A: Higher Premium, Lower Deductible
The Health Plan B: Lower Premium, Higher Deductible
The Health Plan POS (PPB): Gives out of network options, not an HMO: works as the PPB plans do.
FBMC Benefits Management, Inc.: www.myfbmc.com
www.Mountaineer.fbmcbenefits.com
Mountaineer Flexible Benefits options:
PRE-TAX
Dental Insurance – www.sunlife.com/wvpeia – Assistance Plan, Basic Plan, Enhanced Plan, Premier Plan
Vision Insurance – www.humana.com – Full-Service Vision Plan, Exam Plus Vision Plan
Hearing Health Care – www.epichearing.com/FBMC – Pure Tone Hearing Test, Functional Assessment, Hearing Aid Evaluation, Fitting and Programming, Therapy and Training
Term Disability: www.standard.com
Long-Term Disability – 50% or 70% plans, plans are income based, LTD pays out after 6 months of exhaustion of leave balances, pretax benefit, does not pay into retirement
Short-Term Disability – 70% of income pay-out, plans are income based, STD pays out after 30 days of exhaustion of leave balances, pays up to 180 days, pretax benefit.
Group Long Term Disability –www.standard.com 60% of earned wages, cost of benefit is age and income based, continues to make contributions to employee’s TIAA Retirement (12%), staff only benefit (see HR for Forms) --- not thru FBMC
Flexible Spending Accounts: inspirafinancial.com
Healthcare FSA: used to pay eligible medical expenses that are not covered by insurance, full annual contribution amount is available upon enrollment, can be used on any insured member (self, spouse, dependent), PayFlex Card is issued and used as debit card, tax free.
Dependent Care FSA: reimbursement benefit for dependent care coverage, full annual contribution is NOT available at enrollment, tax free.
POST-TAX
Legal Insurance – www.ARAGLegal.com – Common uses are estate planning, bankruptcy, minor traffic violations, family law, consumer protection, divorce, juvenile court, credit record correction.
COMING SOON:
Hospital Indemnity
Critical Illness
Accident
BENEFITS FAQ:
When can I sign up for benefits?
A new employee may sign up for insurance the month of hire or the succeeding two months.
Open enrollment for all benefit eligible employees is Spring of every year; changes take place July 01. Pre-tax plans are permitted only during open enrollment of each year, unless an IRS-qualified family status change occurs and the change is made in writing within 60 days of the event.
Are you a new employee? https://peia.wv.gov/FAQ/Pages/New-Employee.aspx
RETIREMENT FAQ:
What are the retirement eligibility guidelines?
The TIAA plans establish the below eligibility:
- Any age with 30 years of service
- Age 60 with at least 5 years of service
QUALIFING EVENTS
PEIA offers opportunities to enroll, update, or change your benefits based on the following criteria:
GUARDIANSHIP / ADOPTION: Did you adopt a child? https://peia.wv.gov/FAQ/Pages/Adoption-FAQ.aspx
BIRTH OF CHILD: Did you Birth a Child? https://peia.wv.gov/FAQ/Pages/Birth-of-a-Child%20FAQ.aspx
MARRIED: Did you get Married? https://peia.wv.gov/FAQ/Pages/Marriage.aspx
DIVORCE: Did you get Divorced? https://peia.wv.gov/FAQ/Pages/Divorce-FAQ.aspx
DEATH OF A SPOUSE OR DEPENDENT
END OF SPOUSE OR DEPENDENT’S EMPLOYMENT
BEGINNING OF SPOUSE OR DEPENDENT’S EMPLOYMENT
SIGNIFICANT CHANGE IN HEALTH COVERAGE DUE TO SPOUSE OR DENPENDENT’S EMPLOYMENT
UNPAID LEAVE OF ABSENCE BY EMPLOYEE, SPOUSE, OR DEPENDENT
Do you have a dependent attending school out of the area? https://peia.wv.gov/FAQ/Pages/OOABenefits.aspx
Are you planning on Retirement? https://peia.wv.gov/FAQ/Pages/Retirement-FAQ.aspx
Did you move? Complete the change in address https://peia.wv.gov/Forms-Downloads/Documents/enrollment_forms/Change_in_Address_Form.pdf