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Accident Plan Accident Plan • New plan for 1/1/18 • 44,500 enrolled to date • To date - 677 claims filed with the average claim paying out $1,200 • Benefits are paid directly to member • Sport rider – additional payout - up to $1,000 • To file a claims call: 1-877-464-5111 (press or say 2) 41
Accident Plan Examples of benefits payable for common injuries Common Injuries Benefit Accident Care Benefit Payable Payable Emergency Dental $480 Initial doctor visit $100 Work (crown) Follow up doctor $100 Eye injury (removal $100 treatment of object) Emergency room $300 Concussion $450 visit Nose Fracture $750 Ground Ambulance $360 (closed) X-Ray $75 Collarbone Fracture $2,000 (closed) Hospital Admission $1,250 Dislocated Elbow $1,500 (closed) Physical therapy $60 Dislocated Hip $4,000 Coma (5+ days) $10,000 (closed) 42
Group Term Life Group Term Life • 2019 Updates: o No rate increases for 2019 o Same Guaranteed Issue amounts as last year o Same EOI rules • Pure Term Life – no accumulated cash value • Spouse & dependent coverage available (on a post tax basis) • Additional Plan Benefits o Accelerated Death Benefit – with Continuous Confinement Benefit Option on both employee and spouse policies o Disability Waiver of premiums o Funeral Planning & Concierge Services – by Everest Funeral Package, LLC in Houston, TX 43
Group Term Life Evidence of Insurability (EOI) • New Hire/Newly Eligible o Employees: up to $200,000 guarantee issue o Spouse: up to $50,000 guarantee issue-post tax deduction o Child(ren): $10,000 guarantee issue-post tax deduction • Open enrollment o Currently enrolled employees/spouse may increase election$10,000 or $20,000 without EOI (employees up to $200,000 & spouse up to $50,000) o Late entrants: Employees who had the opportunity to enroll previously but did not, may elect up to $20,000 of coverage on themselves and spouse without EOI ( if you have not been previously denied ) o Child coverage can be added at annual enrollment without having to provide EOI • Qualifying Life Event (adding or increasing coverage) o Same rules as New Hire/Newly Eligible as long as event is consistent with change 44
Group Term Life 45
Core Accidental Death & Dismemberment Core AD&D • $10,000 of coverage – Totally FREE o This core coverage includes the Voya Travel Assistance • Coverage is only for the employee • All employees who are eligible for NCFlex are eligible for this free benefit • Employees must elect the Core AD&D Coverage during annual enrollment or as a new hire to receive coverage • Beneficiaries may be the same for Core and Voluntary AD&D 46
Voluntary Accident Death and Dismemberment Voluntary AD&D • Coverage amounts from $50,000 to $500,000 • Employee and Family coverage options available • No dual coverage allowed • Examples of Additional Benefits* for all covered members o Travel Assistance o Coma Benefit – additional 1% of full amount per month for up to 24 months* o Rehabilitation Benefit – additional 2% of full amount for up to 12 months* o Seat Belt Benefit (loss of life) – additional 10% of full amount maximum $25,000* o Funeral Expense Benefit – up to $5,000* o Survivor’s Benefit – additional 1% of full amount per month for up to 12 months to each of your surviving insured dependent children under age 18* o *For more details see the Voluntary AD&D certificate of insurance on our website www.ncflex.org 47
Voluntary AD&D Monthly Cost 48
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