Flexible Benefits Overview

The Flexible Benefits Plan is Puget Sound's group health insurance benefits program for staff members in regular positions scheduled to work at least half-time, 1,040 hours per year, and faculty members who teach part-time, who do not bear the full range of expectations associated with full-time faculty, have a half time appointment when they are contracted to teach four units of course work or to meet an equivalent set of responsibilities during the academic year, are eligible for Flexible Benefits.

Program benefits include the following:

Benefits Allowance

The university provides a monthly benefits allowance that you use to purchase benefits and establish personal expense accounts.

If the cost for the benefits you select is greater than your allowance, you supplement the allowance with tax-free payroll deductions.

Medical Insurance

You may use your benefits allowance to purchase coverage for yourself and your family in one of the university's three group medical plans, an HMO plan, a point-of-service (POS) plan with a low deductible and a POS with a high deductible. However, if you have group medical coverage from some other source, such as your spouse's employer, you may decide not to enroll in the university's plan and instead apply your benefits allowance to the dental plan, the life insurance plan, or place it in a personal expense account.

Domestic partners are eligible for coverage under the medical plan.

Dental Insurance

You may choose to use a portion of your benefits allowance to purchase coverage for yourself and your family in the university sponsored dental plan. The dental plan is an indemnity dental plan with co-payments and deductibles and allows you flexibility in your choice of dentist.

Unless you have used a portion of your allowance to purchase the dental insurance, you will pay the cost of the coverage with tax-free payroll deductions.

Life Insurance

As a basic benefit, you receive $25,000 in life insurance coverage paid for by the university. You may choose to us a portion of your benefits allowance to purchase additional group life insurance - beyond the $25,000 that the university purchases for you - in increments up to $150,000 in additional coverage.

Unless you have used a portion of your allowance to purchase additional group life insurance, you will pay the cost of this coverage with a tax-free payroll deduction.

Health Care Personal Expense Account

After you have chosen your medical, dental, and additional life insurance coverage you may deposit any remaining benefits allowance in a health care personal expense account. You may also deposit some of your own salary into your health care account on a tax-free basis. During the year, you can use the money in the account to reimburse yourself, also on a tax-free basis, for qualified medical and dental expenses that are not covered by insurance.

Dependent Care Personal Expense Account

After you have chosen your medical, dental, and additional like insurance coverage you may deposit any remaining benefits allowance in a dependent care personal expense account. You may also deposit some of your own salary into your dependent care account on a tax-free basis. During the year, you can use the money in the account to reimburse yourself, again, on a tax-free basis, for qualified dependent care expenses.

Additional information about flexible benefits can be found in the election guide booklet.