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Optional Benefits

PSU offers optional benefits to eligible employees as a way to enhance your ability to balance life and work. Several of these elective voluntary benefits are offered at our less expensive group rates. Like Core Benefits, the Optional Benefits listed here are sponsored by PEBB.

You may choose to purchase benefits such as additional life insurance for you and your eligible dependents, accidental death and dismemberment insurance, short and long term disability insurance, long term care insurance as well as before-tax healthcare and dependent day care flexible spending accounts. These benefits are voluntary and 100% employee paid. You will find details in PEBB's Summary Plan Description.

Optional Life Insurance

Life insurance is a benefit that can help protect you and your loved ones from financial hardships in the event of an untimely death. As an eligible employee, you may purchase life insurance coverage that goes beyond the basic $5,000 life insurance paid for you as part of your Core Benefits.

You may purchase life insurance coverage for yourself in $20,000 increments up to $600,000 and for your spouse or domestic partner in $20,000 increments up to $400,000. The Dependent Life Insurance coverage is limited to $5,000 per dependent. Read more about Optional Life Insurance at the PEBB website.

Important: There is a one-time opportunity for newly hired employees to purchase a guaranteed amount of up to $40,000 of life insurance without a medical history statement. Life insurance for your spouse, same-sex or opposite sex domestic partner is guaranteed for $20,000 of life insurance without having to provide a medical history. You need to enroll within 30 days from initial eligibility. Guaranteed means the insurance carrier cannot deny the coverage.

Accidental Death & Dismemberment Insurance

Accidental Death & Dismemberment (AD&D) insurance is an optional benefit that you may purchase as an eligible full-time or part-time employee. This insurance provides extra protection for you and your and family in the event of a covered accidental death or injury. The AD&D policy offers features designed to reduce the financial burdens associated with the loss of life, limb or hearing, speech, or sight. Coverage is available in amounts from $50,000 to $500,000.

PSU Faculty Association, American Federation of Teachers (AFT), members have an opportunity to enroll in group term life and accidental death and dismemberment insurance with MetLife. Information and forms are at the Portland State University Faculty Association (PSUFA) website.

Disability Insurance

Experiencing an illness or injury that prevents you from being at work for an extended period can cause a devastating interruption of income if the unexpected occurs. To reduce the financial impact of these events, PEBB offers Short Term and Long Term Disability Insurance plans through The Standard Insurance Company. As an eligible full-time or part-time employee these policies are available for purchase. These policies can provide income protection against disabilities resulting from a covered physical disease, injury, pregnancy, or mental disorder. These coverages are not available for dependents.

Short Term Disability

Short Term Disability (STD) Insurance replaces a portion of your income if you are unable to work due to a condition covered under the policy in the Summary Plan Description. Short Term Disability has a maximum benefit period of thirteen weeks if your disability is not due to a pre-existing condition. In the case of pre-existing conditions, the maximum benefit period is four weeks. The Short Term Disability payments are offset by available sick leave accruals which must be used concurrently. It is important that you carefully review all the information about Short Term Disability.

Long Term Disability

Long Term Disability (LTD) Insurance provides partial income replacement should you experience a disability that extends beyond the scope of the Short Term Disability coverage. There are distinctions between the Short Term Disability and the Long Term Disability Insurance as outlined in the Summary Plan Description. The most important distinction is Long Term Disability income replacement provision is dependent upon which of the four options you choose. The maximum benefit period is dependent in part, on your age at the time you become disabled. Understanding the four options for Long Term disability is crucial to getting the best coverage. You can learn more about Long Term Disability through PEBB's Optional Insurance Page.

Long Term Care Insurance

PEBB sponsors a Long Term Care Insurance offered through UnumProvident. Long term care insurance can help ease the financial burdens associated with care if you lose the ability to perform the basic activities of daily living such as walking, moving unassisted, dressing, bathing, eating, toileting. Long term care may be needed to recover from surgery or to cope with the effects of illness. In many cases, long term care is given in the home or in a private room of an assisted-living facility. Without long term care insurance, the cost of providing services like this could cause significant financial hardship for you and your family.

All PEBB-eligible employees and certain family members who are 18 to 84 years old are eligible to enroll in Long Term Care insurance at any time.

Important: As a newly hired employee you are eligible for benefit amounts on a guarantee issue basis of up to and including $4,000 and a facility benefit duration of 3 or 6 years. You need to enroll within 30 days from your initial eligibility.

Flexible Spending Accounts

If you anticipate out-of-pocket expenses for medical and dependent care, you may establish Flexible Spending Accounts (FSAs). These accounts allow you to use before-tax income to pay for eligible healthcare and dependent care expenses. Flexible Spending Accounts are IRS-sanctioned accounts set up with your authorization to deduct money from your before-tax salary. Funds are deposited to your FSA on a monthly basis. When eligible expenses are incurred, you can file a reimbursement claim to make a tax-free withdrawal from the account. It is important to review the information carefully because unused funds during the eligible period are not refunded nor do they carry over.

ASIFlex is the Administrator of the Flexible Spending Accounts. The ASIFlex plan features debit cards for healthcare accounts and online support for claims processing. You can learn more about Health Care FSA and Dependent Care FSA by visiting the ASIFlex website.