Description of Administrative Benefits
CAS provides a variety of integrated plans for our clients. Our team of experts is very familiar with addressing customers' unique needs.
Medical
Medical Plan Coverage is designed to provide coverage for medical services as well as protection against catastrophic health problems. CAS provides customized benefit solutions for business wishing to provide quality medical care for their employees.
Dental
Self-funded dental is a simple, cost effective way to provide a dental plan for employees- a plan that will meet the employer's financial goals and the employee's benefit needs. Virtually all the money spent goes toward dental treatment (90% - 95%) – not to extraneous overhead or administration. Employees are free to visit any dentist they choose, including their current dentist.
Vision
Vision plans are designed to help pay for the costs of preventative care and other vision services.
Prescription
Prescription Benefit Coverage is designed to provide coverage for retail and mail order prescriptions.
Short Term Disability
Short Term Disability plans are designed to provide partial income replacement to employees of companies who fund this type of benefit, if they become disabled due to sickness or injury usually 13 or 26 weeks.
Long Term Disability
Long-term disability plans are designed to provide partial income replacement to if an employee cannot work due to a non-work related illness or injury. Long-term disability picks up where short-term disability leaves off, usually paying a percentage of salary.
Life Insurance
Life Insurance is a benefit plan that pays money upon a participant's death to their beneficiaries. Life insurance helps protect employees and their families from financial hardship related to an untimely death. This can be in addition to employer paid life coverage, additional amounts for the employee and/or for their spouse and dependents.
Flexible Spending Accounts (Section 125 and 129 Plans)
Health Care Flexible Spending Account (FSA) is an employer sponsored benefit that enables employees to set aside pre-tax dollars out of their paycheck to pay for eligible health care expenses. Monies put into the plan avoid both Federal Income Tax and FICA, the average savings is about 25-30%.
Common eligible expenses are prescription and office visit co-pays; vision expense, dental work, orthodontia and expenses that are applied to medical plan deductibles. Expenses that are for one's general well-being, cosmetic in nature or not medically necessary are not eligible.
Dependent Care is one of the single largest expenses for a family with children. A Dependent Care FSA can be used to pay for your qualified day care expenses with pre-tax dollars. The dependent care provider can be a licensed day care facility or a private individual.
Health Reimbursement Accounts (HRAs)
Health Reimbursement Arrangements are an innovative approach to employee benefits. This type of plan is an arrangement set up and sponsored by the employer to offer a defined benefit to the employees. The benefit is then used by employees to pay for qualified medical expenses. Employees are reimbursed tax free for qualified medical expenses up to a maximum dollar amount for a coverage period. An HRA may be offered with other health plans, including FSAs.
Health Savings Accounts (HSAs)
The Medicare Prescription Drug Act did much more than just provide coverage for seniors for prescription drugs, it also has provisions that encourage people to save for their own healthcare. Individuals are permitted to contribute up to 100% of their health plan deductible. The maximum annual contribution, indexed annually, is $2,650 for individuals and $5,250 for family policies in 2005.