Open enrollment refers to a period during which eligible participants may freely enroll in or change their selections for a benefit program. It is usually subject to limitations. MTA Benefits, the source of all benefit programs for MTA members, has a designated period each year in which eligible members may enroll in the MTA disability plan.
Who’s eligible to participate?
Members of any local association whose leadership has approved the MTA plan may elect to enroll. But that doesn’t mean that every MTA member is eligible. To find out if you qualify, ask your local president or building representative; call MTA Benefits at 800.336.0990; email info@mtabenefits.com; call plan administrator Tom Colbert at 888.646.1972, ext. 101; or email Thomas.Colbert@voyafa.com.
What’s offered during open enrollment?
While disability insurance is the most important coverage available, there are actually three benefit plans that can pay you money when accidents and illnesses happen — disability, critical illness and accident insurance. All three plans are "income protection plans," which means they take the financial pain and strain out of expenses for accidental injuries and covered illnesses.
How do I choose?
First and foremost, disability insurance provides the most comprehensive benefit available. It offers the most money for the greatest number of situations and for the longest time. Here’s a simplified explanation:
Disability. Regardless of whether it’s a short-term or a long-term policy, it pays you when you’re not working or bringing in a paycheck. That could mean income for three weeks or three years.
Critical illness. You must be diagnosed with a specific illness or condition to be paid under this plan. Heart attack, stroke, renal failure and cancer all qualify as covered illnesses, for example. When your illness is diagnosed, you receive a lump-sum payment that you can use to cover any expenses you choose, whether medical or non-medical.
Accident. If you’re injured in an accident, you could receive money based upon the specific medical issue you experienced. Hip fracture? You could receive up to $5,000 toward accident-related expenses. More than 50 types of injuries, services and treatments are covered.
What do I get for what I pay?
Let’s take accident insurance as an example. For only $6.69 per week, you can insure your entire family ($2.61 per week if you’re just insuring yourself) and receive payments toward broken bones, burns, concussions, emergency room visits, X-rays or hospital admissions. The cost of care goes beyond what medical insurance covers. Check out all benefit amounts at www.mtabenefits.com/accident-insurance.
The bottom line: It may be that you can’t afford NOT to enroll in an income protection plan.
What do I gain by enrolling?
Simply put, if you take a tumble, your finances won’t crumble if you’re supported by some kind of income protection plan. Without one, you could be forced to pay thousands of dollars out of pocket at a time when you can least afford it. These plans help fill in many of the financial gaps not covered by health insurance, covering items such as deductibles, co-pays and medical supplies. With some coverage, you’ll be comfortable knowing that an unexpected medical expense won’t automatically bankrupt you.
How much time will it take?
Just a few minutes — and it’s well worth it! Call 877.401.4083 for more information or to enroll.
Planet Green Recycle
The Winter issue of The MTA Advantage carried an article about MTA Benefits’ recycling partnership with Planet Green Recycle. Unfortunately, we have been notified that the company is no longer recycling small electronics. Planet Green is still recycling ink cartridges as part of its fundraising program, however. Information is available at mtabenefits.com.
Editor: Elizabeth A. Bejoian
The MTA Advantage is published three times a year as a supplement to MTA Today by MTA Benefits, Inc.
2 Heritage Drive, 8th Floor, Quincy, MA 02171-2119
Tel: 800.336.0990 • Fax: 617.557.6687
Website: www.mtabenefits.com
No dues dollars are ever used to market MTA Benefits programs.
