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TEOCO Income Protection Benefits
TEOCO Income Protection Benefits
- Life, Accidental Death and Dismemberment Insurance – Employees receive coverage in the amount of $50,000 at no cost
- Supplemental Life Insurance – Employees can purchase up to five times salary to a maximum of $300,000 for themselves, and up to 50% of their coverage amount for a spouse
- Short Term Disability – Employees receive coverage at no cost. Employees receive 70% of their base salary up to a maximum of $1,000 per week for covered illnesses and injuries. Benefits are payable up to 13 weeks. In addition, employees that have been employed for over a year receive an additional amount equal to 30% of the employee’s regular base salary paid by TEOCO.
- Long Term Disability – Employees receive coverage at no cost. Employees receive 66.67% of their base salary, up to $5,000/month for extended covered illnesses and injuries
- Flexible Spending Account (FSA - Employees may enroll in a health care and/or dependent care FSA. This allows employees to set aside (pre-tax payroll deductions) up to $5,000 for each account per year to pay for medical and/or dependent care expenses. There’s an FSA Debit MasterCard that can be used at any health care provider or merchant that is authorized by the IRS to accept FSA debit cards.
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