See how Sam makes the most of his .
“I’m excited to get $500 Benefit Bucks from Schneider Electric! Plus, now I’ll have some extra money to use!”
Sam’s 2021 benefits
- Sam and his wife Amanda are enrolled in Amanda’s medical/dental and vision benefits.
- Sam purchases LTD Buy-up through Schneider Electric, so his pay continues if he can’t work due to a long-term disability.
How Sam uses his Benefit Bucks during 2022 Annual Enrollment
Sam is paid semi-monthly, so his $500 in Benefit Bucks means he gets $20.84 per pay period to apply toward eligible benefits.
|Sam’s decisions||Annual amount paid by Benefit Bucks||Per pay period amount paid by Benefit Bucks|
|Sam decides to replace Amanda’s vision coverage with coverage through Schneider Electric. His Employee + Spouse coverage will end up being free for Sam because of Benefit Bucks.||$158.88||$6.62|
|He was paying out of his pocket for his LTD Buy-up, but now Benefit Bucks pays for that.||$52.50||$2.18|
|He wanted additional life insurance for himself in the past, but didn’t feel he could spend the money. Now Benefit Bucks will cover Supplemental Life Insurance at 4 times his base pay (subject to evidence of insurability).||$110.40||$4.60|
|Sam still has unspent Benefit Bucks, so he puts the remaining money in his Health Care FSA so he can pay for eligible health care expenses with before-tax dollars.||$178.22||$7.44|
|Total Benefit Bucks||$500.00||$20.84|
How Sam spends his extra money
Sam had always wanted to take advantage of the WESOP but couldn’t find the extra money. Now that some of his money has been freed up, Sam chooses to invest in the Company and himself by planning to contribute to the WESOP in spring.