Voluntary Benefits
Flexible Spending Accounts (FSA)
The Igoe flexible spending accounts (FSAs) are one way to cut down on your expenses—and we offer two. With the FSA, you set aside aside a portion of your pre-tax income. Because that portion of your income is not taxed, you pay less in federal income, Social Security and Medicare taxes. You can then use those funds to pay for qualified health care and/or dependent care expenses.
Health Care FSA
Health Care FSA
For 2024, you may contribute up to $3,200 to cover eligible health care expenses incurred by you, your spouse and your children up to age 26. Some eligible expenses include:
- Coinsurance
- Copayments
- Deductibles
- Prescriptions
- Dental treatment
- Orthodontia
- Eye exams/eyeglasses
- Lasik eye surgery
Dependent Care FSA
Dependent Care FSA
For 2024, you may contribute up to $5,000 (per family) to cover eligible dependent care expenses ($2,500 if you and your spouse file separate tax returns). Some eligible expenses include:
- Care of a dependent child under the age of 13 by babysitters, nursery schools, pre-school or daycare centers
- Care of a household member who is physically or mentally incapable of caring for him/herself and qualifies as your federal tax dependent
FSA Rules
You must enroll each year to participate.
Because FSAs can give you a significant tax advantage, they must be administered according to specific IRS rules:
Health care FSA: Unused funds of up to $640 from one year can carry over to the following year. Carryover funds will not count against or offset the amount that you can contribute annually. Unused funds over $640 will NOT be returned to you or carried over to the following year.
Dependent care FSA: You can incur expenses through December 31, 2024. Unused funds will NOT be returned to you or carried over to the following year.
You must file all claims by March 15, 2025, for expenses incurred in 2024.
For more information and to register your account, go to www.goigoe.com.
Basic Life and AD&D Insurance
Basic Life/AD&D (Company-paid)
This benefit is provided at NO COST to you through Unum.
Your basic life and AD&D coverage amount: 2 times your annual earnings, up to $500,000.
Supplemental Life
Supplemental Life (Employee-paid)
If you determine you need more than the Company-paid basic life coverage, you may purchase additional coverage through Unum for yourself and your eligible family members.
Coverage Options
- Employee: Choose from $10,000 to $500,000 in $10,000 increments, to a maximum of the lesser of 5x earnings or $500,000.
- Spouse: Up to $500,000 of coverage in $5,000 increments. Spouse coverage cannot exceed 100% of the coverage amount you purchase for yourself. The Guaranteed Issue amount is $25,000.*
- Child(ren) under age 26: $10,000. The maximum benefit for children live birth to 6 months is $1,000.
*During your initial eligibility period only, you can receive coverage up to the Guaranteed Issue amounts without having to provide Evidence of Insurability (EOI, or information about your health). Coverage amounts that require EOI will not be effective unless approved by the insurance carrier.
Disability Insurance
If you become sick or injured and can’t come to work due to a serious health condition, our long-term disability (LTD) insurance plan has you covered by replacing part of your lost income.*
*The disability benefit will begin after 90 days and will be coordinated with any state disability payments.
Basic Long-Term Disability
Basic Long-Term Disability (Company-paid)
Long-term disability (LTD) insurance is provided at no cost to you through Unum. You will automatically be covered under the basic LTD plan if you do not enroll for coverage under the additional LTD plan.
- Benefit Percentage: 50%
- Monthly Benefit Maximum: $10,000
- When Benefits Begin: After 90th day of disability
- Maximum Benefit Duration: 24 months
Additional Long-Term Disability
Additional Long-Term Disability (Employee-Paid)
Additional LTD coverage is available through Unum. You pay 100% of the cost of this coverage.
- Benefit Percentage: 60%
- Monthly Benefit Maximum: $12,000
- When Benefits Begin: After 90th day of disability
- Maximum Benefit Duration: Social Security Normal Retirement Age (SSNRA)
For information on Unum online self-service capabilities and how to file and check claims online, click here.
Give Your Medical Coverage a Boost
While our medical plans provide significant comprehensive health care coverage, they don’t cover it all. That’s where our voluntary benefits through Unum come in. These plans complement your medical coverage and bridge any gaps in care. The best part? Under most of these plans, the benefit is paid directly to you to use as you please.
Accident Insurance
Accident Insurance
Accident insurance can soften the financial impact of an unexpected, non-work-related accident by providing a monetary benefit to help cover unexpected costs related to treating your injuries. Benefits are paid directly to you. Coverage is also available to your spouse and dependents.
Critical Illness Insurance
Critical Illness Insurance
Did you know that the average total out-of-pocket cost related to treating a critical illness is more than $7,000? With critical illness insurance, you’ll receive a lump-sum benefit if you are diagnosed with a covered condition (e.g., heart attack, cancer or stroke) to pay for treatments, prescriptions, travel, living expenses and more.
Hospital Indemnity Insurance
Hospital Indemnity Insurance
The average cost of a hospital stay is $10,000—and the average length of a stay is 4.8 days. Hospital indemnity insurance can help reduce costs by paying you or a covered dependent a benefit to help cover your deductible, coinsurance and other out-of-pocket costs.
Short-Term Disability
Short-Term Disability (STD) Insurance
If you become sick or injured and can’t work, voluntary STD insurance can replace a portion of your income for up to six months while you recover. You can use the money to cover a number of costs, including food, transportation, child or elder care, the mortgage or rent, utilities and out-of-pocket medical costs.
