Wyoming Educators' Benefit Trust

Cafeteria Programs

Wyoming Educators' Benefit Trust offers Premium Conversion and Flexible Spending Plans.  There are several groups which take advantage of this program. 

What is the money in the Employee Reimbursement Account used for?

• Premium Conversion - This reduces the employees pay, before taxes, for medical, dental, short term and long term disability. 
• Medical Reimbursement Flexible Spending Account - your health plan will cover most of your medical expenses, but there are some costs you just can't avoid.  These are: deductibles, co-payments, vision care, dental and prescription drugs.  This account will help save the employees with expenses like these, and can even SAVE them money by letting them pay for these expenses with before-tax dollars.
• Dependent Care Flexible Spending Account - If the employees have children in day care, everyone knows how expensive that can be.  This account will help save the employees with the day care expense, and can even SAVE them money by letting them pay for day care with before-tax dollars.
• Adoption Assistance - If the employee is planning on adopting, this account will help save the employee by letting them pay for expenses for the adoption with before-tax dollars.

This program is like giving everyone of the employees a RAISE!  By paying for these expenses with before-tax dollars, you're reducing your taxable income and reducing the amount of taxes you pay.  And since you're paying less in taxes, you may even increase your take-home pay.  That's like getting a RAISE in pay! 

This allows each individual to customize their own plan of action, according to their individual needs.  Some employees may need to keep out more for medical and some may need to keep out more for day care.  The money the employee decides to contribute will be deposited into an Employee Reimbursement Account in equal amounts each pay period.  Then will be reimbursed to the employee as the expense arises.

If your group is interested in a High Deductible Health Plan, please contact us.

For additional Questions and Answers please see Cafeteria Plan Questions under Frequently Asked Questions.

Back | Home / PrimeMail