It's simple. First, identify the amount of your
CoBen allowance. This is the amount the State will
provide you to pay the premiums for the health
and dental plans you select and the State vision
plan. The amount of your CoBen allowance
depends on whether you're covering yourself only,
or dependents too.
Next, choose the benefit plans that best meet your
needs. Click here to see the premium
cost of each plan. Then, total the cost of the plans
you've selected and compare it to your CoBen
allowance.
- If the total cost of the plans you choose is less
than your benefit allowance, you'll receive the
difference as taxable cash (excess cash) in
your paycheck. The excess cash amount will
be subject to state, federal, and social security
taxes. In order to receive excess cash, you
must be enrolled in health, dental, and vision.
- If you're not enrolled in all three benefits, then
you will not be eligible to receive excess cash.
- If the total cost of the plans you've chosen is
more than your CoBen allowance, you will pay
the difference with pre-tax dollars, which will
be automatically deducted from your
paycheck. This amount is not subject to state,
federal, Social Security, or Medicare taxes.
- If the total cost of the plans you have chosen is
equal to your CoBen allowance, you will pay
nothing, and you'll receive no cash back.
You make the most out of your participation in
CoBen by making cost-effective benefit choices,
which can result in extra money for you each
month in your paycheck. It's also important that
you carefully consider your choices to ensure they
will meet your ongoing health and dental needs
and those of your eligible dependents.
And remember that when making your plan
choices, that your enrollment in a health plan,
specifically the health plan party code you
select (1, 2 or 3), will determine the total
CoBen allowance amount when enrolled into
all three benefits.
Return to Consolidated Benefits
