Other Benefit Options
Cancer insurance, long-term care insurance, short-term disability, and additional life policies are available at the employee's expense through a payroll deduction. If cancer insurance plans are offered, an employee may enroll in these plans at the time of employment or at any annual option period. Individual plan information and cost details may be obtained from SWOSU's Benefits Specialist.
Flexible spending accounts allow you to direct a part of your pay, on a pre-tax basis, into special accounts that can be used throughout the year to reimburse yourself for certain out-of-pocket medical expenses and/or dependent day care expenses. Because your money goes into your reimbursement accounts before federal and state income taxes are withheld, you pay less in taxes, and ultimately have more disposable income. There are two separate accounts: The Unreimbursed Medical Expense Account and the Dependent Day Care Expense Account.
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