Colby offers a wide range of insurance benefits to help meet the needs of employees and their families.
Colby’s medical plans and Flexible Spending Accounts (FSA) are maintained pursuant to Internal Revenue Code rules governing “cafeteria” plans. In order to achieve the tax-savings under such plans, employees sign an irrevocable benefit election for each plan year (January 1 – December 31). Changes are only permitted in limited circumstances.
You can compare the benefits of the medical plans to determine which plan is right for you.
Colby’s medical plan currently provides a choice of three option to choose from:
- Open Access Plus In-Network (OAPIN)
- Open Access Plus (OAP)
- A high-deductible plan with a Health Savings Account (Choice Fund-HSA).
Cigna administers all three plans. More >
Medical insurance coverage is available for retirees who were hired prior to Sept. 1, 2002, and who meet certain requirements. Retirees hired after 2002 may participate in the College’s retiree medical plan at 100 percent of the group rate. More >
A voluntary plan through Vision Service Plan (VSP). More >
A Flexible Spending Account (FSA) is a benefit program that allows employees to set aside money on a pre-tax basis that can be used for certain health-care and dependent-care expenses. More >
Basic life and long-term disability insurance is paid by the College. Additional options for voluntary supplemental life insurance for employees, spouses, and dependents are also available. More >