The Health Care account allows reimbursement for the participant's or a family member's health-related expenses that are not covered by a health plan. Examples of covered expenses include deductibles, co-payments, eye exams, eyeglasses, contact lenses, routine physicals, dental care, and other costs beyond available coverage. Changes to contribution amounts may be made in the case of a qualifying event. If contributions to FlexFunds are not used for expenses incurred within a calendar year, all funds remaining in FlexFund accounts will be forfeited. If a qualifying dismemberment occurs, benefits will be paid under the provisions of the policy.
Coverage is effective upon date of employment, and ceases at termination of regular employment.
Optional Term Life, and Universal Life. The cost of the premiums is paid by faculty, and may vary depending on age and level of coverage. Thereafter, coverage is only available during open enrollment periods. Faculty may only enroll in Universal Life Insurance during open enrollment periods. If purchased at the first enrollment opportunity, limited coverage insurance may be provided on a guaranteed issue basis.