This coverage provides additional financial protection if you or a covered family member is diagnosed with a serious illness, such as heart attack, stroke, organ failure or cancer. You have the option to purchase a plan that pays a lump-sum benefit of $5,000; this benefit would be paid if you or a covered family member is diagnosed with a covered illness or disease.
If you enroll in the Consumer Choice 4000 medical plan, you will automatically be enrolled in Basic Critical Illness Insurance at no additional cost* based on your medical coverage level. You have the option to elect an additional $5,000 in coverage. This benefit is not a replacement for your medical plan insurance (whether through Plexus or another employer). Critical Illness Insurance is considered a “limited benefit policy”, meaning it is not medical insurance and does not satisfy the requirement of minimum essential coverage.
* Plexus pays the premium, but we will withhold tax for the premium amount to ensure any benefit received is tax-free. This will appear on your paycheck as Critical Illness Imputed Income.