See how Sam makes the most of his .
“I can put Benefit Bucks into my Lifestyle PlanningAccount? That’s great — Rascal is a handful! I’m going to take advantage of the reimbursements for pet insurance.”
How Sam uses his 2023 Benefit Bucks during enrollment
- Sam and his wife Amanda enroll in Schneider Electric’s vision benefits and pay for them with Benefit Bucks.
- Also courtesy of Benefit Bucks, Sam purchases LTD Buy-up through Schneider Electric, so he receives 60% of his pay if he can’t work due to a long-term disability.
- Sam elects to contribute the rest of his Benefit Bucks to his Life Planning Account (after taxes) so he can get reimbursed for Rascal’s pet insurance premiums.
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 and his wife get vision coverage through Schneider Electric and pay nothing out of pocket for the Employee + Spouse coverage because of Benefit Bucks.
|He was paying out of his pocket for his LTD Buy-up, but now Benefit Bucks pays for that.||$52.32||$2.18|
Lucky for Sam he still has unspent Benefit Bucks. He elects to contribute them to his Life Planning Account (after taxes) so he can get reimbursed for pet insurance for Rascal.
|Total Benefit Bucks||$500.00||$20.84|
* The amount could be reduced based on the taxability of the elected benefit.