Choose Your Benefits
What benefits can I select from?
Your company’s Cafeteria Plan can include any combination of the following:
- Insurance Premiums: This account allows you to pay for your employer-provided health and other insurance premiums with tax-free dollars.
- Medical Expenses not Covered by Insurance: This account reimburses you for health care expenses not covered by insurance. You set aside money, tax-free, through regular payroll deductions. During the year, you can be reimbursed directly from your account for those qualified health care expenses not covered by insurance. (Under current tax law, only expenses in excess of 7.5 % of AGI are tax deductible. With a Cafeteria Plan, most medical expenses become tax deductible.)
- Adult and Child Day Care Expenses: This account reimburses you for day care expenses for eligible children and adults. Through regular payroll deductions, you set aside part of your income to pay for these expenses on a tax-free basis.
- Individual (Private) Insurance Premiums
To qualify, your dependent(s) must be under the age of 13, or a child, spouse or other dependent who is physically or mentally incapable of self-care and spends at least 8 hours a day in your household.