Missouri State is pleased to offer employees a cafeteria plan, where you can pick and choose the plan that works for you. Enrolling in the cafeteria plan is not about “signing up” for your medical and dental insurance. Enrolling in the cafeteria plan is about paying insurance premiums and non-covered medical or dental expenses, or dependent care costs on a pre-tax basis. Ultimately, it’s about saving you money by setting some aside pre-tax.
The deadline is December 1, 2016
Please review your cafeteria plan annually. Complete information may be found in the Cafeteria Plan Booklet.
Who should enroll?
Employees should consider enrolling if you meet any of the following criteria:
- Anticipate having medical or dental expenses not covered by our insurance (for example: orthodontia)
- Elect Missouri State University medical or dental insurance for a family member(s) and want to pay the insurance premiums on a pre-tax basis
- Have dependent care expenses
Participation in the cafeteria plan is completely voluntary:
- If you are not currently participating in the cafeteria plan, but want to begin participating in 2017, you must use the online enrollment procedures.
- If you want to stop using the cafeteria plan to pay your insurance premium(s) on a pre-tax basis in 2017, you must select the post-tax option. If you do not follow the instructions to stop participating, your insurance premiums will continue to be paid pre-tax through the cafeteria plan for all of 2017.
- If you do not want to participate (or continue to participate) in the flexible medical benefits and/or dependent care assistance option in 2017, simply do nothing and your participation will automatically end on December 31, 2016.
- To participate in the flexible spending or dependent care accounts, you must enroll online.
- For qualified payroll deducted health insurance premiums (those sponsored by the university), you do not have to re-enroll for 2017; enrollment is automatic for your insurance premiums if you currently pay premiums through the cafeteria plan and want to continue.
Should I sign up for the dependent care account?
You may use the cafeteria plan to pay for dependent care costs on a pre-tax basis. The rules for use of the dependent care assistance option are explained in the booklet. These rules differ from those for medical or dental expense reimbursements. The flexible spending account option is to be used for medical expenses involving dependents. The dependent care account allows you to save on child or elder care expenses, e.g., babysitting, daycare, in-home care for an older dependent incapable of self-care.
What do I need to know about the flexible spending account?
To participate in the flexible spending option, start by estimating the amount of money you want to be redirected from your salary to your cafeteria plan account for medical expenses. The best way to do this is to look at the previous year’s medical expenses. If you over-estimate the amount you need, the state of Missouri will keep the funds left in your account at the end of the year.
- Deductibles: Medical deductible remains $800 (individual) and $1,600 (family) if the medical services are provided in-network (the deductible is waived at Taylor). For out-of-network, the 2016 deductible is $1,600 (individual) and $3,200 (family).
- Out-of-pocket maximums: The annual maximum out-of-pocket amounts (deductible + coinsurances) are $2,800 per person or $5,600 per family if medical services are from Taylor or a preferred provider. Out-of-network medical services are $5,600 per person and $11,200 per family.
- Prescription medication expenses: Your prescription benefit remains a 30 percent coinsurance (if filling the prescription at Taylor, the coinsurance is 20 percent). At other pharmacies, you pay 30 percent of the price for the medication; our insurance pays the balance of 70 percent. Your coinsurance increases to 50 percent if you purchase a brand name medication when a generic equivalent was available and your physician had approved the generic medication.
You will continue to pay the coinsurance until you have paid a total of $1,500 out of your pocket. Once you have paid that, our insurance pays 100 percent of the cost for every prescription you get for the remainder of the calendar year. This out-of-pocket amount for prescriptions is in addition to the medical deductible and out-of-pocket amounts discussed above.
Refer to the booklet for more complete information on coverage.
Human resources staff will be available to assist you with the online enrollment process during the open enrollment period. Contact us at 417-836-6616 if you need assistance.
Enrollment can be done from any computer. Many open-access labs are available if you need easy computer access. In addition, computer labs are available on the West Plains campus.